Enefit - on the green journey

In May, the transition to the summer season continued in Latvia’s electricity market, bringing warmer weather and longer daylight hours. However, the average electricity price in May reached 8.23 cents per kilowatt-hour, which is approximately 43% higher than in April and 21% more expensive than in May of last year, according to data compiled by the energy company Enefit.

Will there ever come a time in Latvia when we can say, “We are fully electrified!”? We will most likely not see full electrification in Latvia, but we should strive for it in sectors where it makes economic sense, notes Mārtiņš Vancāns, head of the energy company "Enefit" in Latvia. Industry experts will discuss this issue in greater detail during the panel discussion “100% Electrified Latvia in 2050 – Utopia or Reality?”, which will take place as part of the major executive conference “EBIT.”

April has been significantly more favorable for Latvian electricity consumers, thanks to more sunshine, higher air temperatures, and lower prices than in March, according to data compiled by the energy company Enefit. The average electricity price in April dropped to 5.7 cents per kilowatt-hour, which is about 24% less than in March and more than a quarter cheaper than in April of last year. The last time prices were this low in April was in 2021, when the average exchange price was 4.4 cents per kilowatt-hour.