Latvia and Estonia need energy and want to buy cheap Russian electricity

Amid extremely high electricity prices in the EU (European Union), countries such as Latvia and Estonia have decided to fight for the opportunity to buy cheap electricity from the Russian Federation. At the moment, access is practically blocked due to the restriction of the energy flow from Belarus by Lithuania.

Thus, representatives of Latvia issued a warning that they intend to file a complaint with the European Commission. So, due to a sharp decline in energy exports from Russia, spot prices in the Baltic states reached 160 euros per 1 MWh.

The sharp rise in prices in the Baltics is due to the actions of Lithuania

Limiting the flow of electricity from Belarus, implemented unilaterally by Lithuania, received a negative assessment from the neighboring Baltic countries.

Thus, in particular, Latvia announced its plans to send a complaint to the European Commission, as well as to the EU Regulatory Cooperation Agency. Since the implemented flow limitation “is not due to any technical limitations”. This became known from a publication in Baltic News Service (BNS).

Also, the introduction of the restriction caused outrage on the part of Estonia, since, according to their statement, these actions significantly limit the possibilities of energy trade for the Russian Federation.

This restriction was introduced on September 15 by the Lithuanian system operator Litgrid in order to allegedly shield the national energy system. from the electricity generated at the nuclear power plant in Belarus (despite the fact that the nuclear power plant has been shut down since July 12 due to malfunctions at turbine generator).

These restrictions also had a serious impact on the flow of the energy ring. BRELL (Belarus-Russia-Estonia-Latvia-Lithuania).

Thus, a situation has been created in which the energy-deficient Baltic countries do not have the opportunity to purchase cheap Russian electricity.

And, by the way, according to the exchange data NordPool, already in July and August, the average spot prices for Latvia and Lithuania were about 88 euros for 1MW * h. And after the introduction of the restriction, the price jumped sharply to 160 euros for 1MW * h.

In Estonia, the price was formed according to a similar scenario. So, for understanding in Russia, the one-part price of the European region is approximately € 29 per 1 MWh.

Well, if electricity prices in the EU continue to grow further, then, most likely, an overflow from Lithuania Russian electricity to the other Baltic countries is likely to be restored in order to avoid price shock.

But this will not reverse the emerging trend, and in the future the sale of cheap Russian electricity will be suspended again.

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