Posts Tagged ‘Enefit’
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.
Read full announcement (external link)
Originally published on 5 May
Read MoreEnefit to Triple Its Battery Storage Capacity
Enefit, the electricity business of Eesti Energia, is expanding its energy storage portfolio by building three new battery storage systems next to its wind farms in Lithuania. The new systems will have a combined capacity of 46 megawatts (MW) and 184 megawatt-hours (MWh). Once completed, Enefit’s storage portfolio will grow from the current 29 MW to 75 MW, strengthening the company’s position in the Baltic energy storage market.
“Energy storage is a key component of the modern energy system. Battery solutions help balance wind and solar generation, support grid stability, and mitigate high price peaks,” said Donatas Celešius, Member of the Management Board of Enefit and Head of Business Development. “Storage solutions also increase the value of our existing production assets and strengthen our integrated generation portfolio as a whole.”
Read full announcement (external link)
Originally published on 19 Mar
Read More