Energy Market Overview: Lithuania’s Wind Contribution Influences Baltic Electricity Prices
April brought favourable conditions to Estonian consumers and marked the second consecutive month of declining electricity prices. Thanks to sunnier weather and warmer temperatures, the average electricity price in April settled at 5.4 cents per kilowatt-hour, roughly 11.4% lower than in March and more than a quarter lower than in April of the previous year. The last time April was cheaper was in 2021, when the monthly average price stood at 4.4 cents per kilowatt-hour.
The reasons behind the lower prices are clear. Warmer weather reduced heating demand and, as a result, overall electricity consumption. Solar and wind generation increased significantly across the region, bringing a large volume of low-cost electricity to the market. This, in turn, reduced more expensive fossil-based generation. Additional support came from the ongoing Latvian hydropower high season, which helped displace higher-cost fossil-based generation assets.
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Originally published on 5 May
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In the coming years Ignitis ON, the leading EV fast-charging network, will become even larger and more convenient for EV drivers. The European Union (EU) made a decision to allocate EUR 16 million for the charging network’s expansion. The grant will help fund the installation of 500 new charging points. It is the largest-ever allocated sum to a charging network operator in the Baltics.
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Originally published on 27 Feb
The Baltic Sea plays an increasingly important role in the European energy sector, contributing both to energy security and the ongoing energy transition in the region. At ORLEN, we are committed to initiatives focused on this vital basin and fostering discussions on how to fully harness the Baltic Sea’s potential for the benefit of businesses and societies.
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HYBRIT’s pilot project for hydrogen gas storage has now been completed and reported to the Swedish Energy Agency. The results show that it is technically possible to store fossil-free hydrogen gas for producing fossil-free iron and steel on an industrial scale. This can also reduce the variable operating costs of hydrogen production by up to 40 per cent.
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Originally published on 27 Feb
In the Estonian-Latvian border region, public transport services that once provided convenient travel options for residents of both countries have been absent for several decades. The ROCC project, supported by the Interreg Estonia-Latvia Programme 2021-2027, is now approaching a significant milestone—the launch of two pilot bus routes. The Valga-Valka and Ikla-Ainaži (Salacgrīva) bus lines are expected to begin operating in the spring of 2025, offering new mobility opportunities for border residents and travelers alike.
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Originally published on 25 Feb
OpenAI is proud to work with Estonia’s government on a world-first initiative to provide all students and teachers in the secondary school system with access to ChatGPT Edu, a version of ChatGPT customized for education systems, starting with 10th and 11th graders by September 2025.
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Originally published on 25 Feb
A new solution has emerged in Latvia’s defence technology sector: the unmanned ground platform developed by the Latvian startup Natrix is a universal, modular solution that can be adapted for various applications. Currently, the Natrix platform’s primary tasks are delivering ammunition and food to the frontline and on the return journey evacuating the wounded and deceased, thus significantly reducing the risk of casualties for rescuers who previously had to evacuate the injured manually.
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Originally published on 25 Feb
Are you a VR/AR/XR company or a game developer in Finland, Sweden or Estonia looking to accelerate your growth?
The CDG-Booster program invites you to an inclusive community of peers and industry experts to help your company speed up growth, avoid business pitfalls, save resources, find your strengths and learn how to exploit them.
Through this program, your company will become it’s next, improved version of itself and you will journey the path to become a smarter and better entrepreneur.
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Originally published on 21 Feb
Over the course of 2024, the European Investment Bank (EIB) and the European Investment Fund (EIF) continued to support Sweden’s economic development and climate initiatives through substantial investments.
The EIB Group’s financing during the year amounted to around SEK 22 billion, of which more than 60% went to climate measures and environmental sustainability. This money supported wind power, energy-efficient housing and industrial electrification, among other projects.
These investments are estimated to have kept 32 000 jobs in Sweden.
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Originally published on 20 Feb
In the Rail Baltica project, envisioned as a seamless corridor stretching from Warsaw to Tallinn, Poland plays a crucial role as a strategic partner, serving as the gateway connecting Lithuania, Latvia, and Estonia with the broader European rail network. While work on Rail Baltica has been progressing in all three Baltic countries, with 43% of the mainline expected to be construction-ready and actively under development by the end of this year, the Polish section has also experienced continuous development for several years.
Rail Baltica team recently conducted a visit to Poland to assess modernization efforts and observe the progress of the railway line that will connect Poland to the Lithuanian border.
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Originally published on 24 Feb
LIAA will carry out the project “Agri-Biocircular-Hub: Center of Excellence for Smart Agriculture and Circular Bioeconomy Towards a Sustainable Agri-Food Sector in Enlargement Countries.” The project will be implemented over a four-year period, from 2025 to 2029. LIAA’s 2023-2029 strategy focuses on fostering knowledge-intensive business, export growth, and investment attraction, with an emphasis on smart specialization strategy (RIS3) areas.
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Originally published on 21 Feb