🇱🇻 Electricity spot price in Latvia today – April 20, 2024

Electricity spot prices in Latvia today, hour by hour. Including prices for the last 30 days.

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Electricity price today in Latvia

Right now the price of electricity in Latvia is   0.080 €/kWh -25,9 %

Highest electricity price today is 0.111 €/kWh at 20-21 Lowest electricity price today is 0.011 €/kWh at 14-15 On average the electricity price today is ~0.063 €/kWh
Detailed tabled Last 30 days

A shower costs today
0.48 € in Latvia

Lowest price today: 0.67 € Highest price today: 0.06 €

10 min, 160 l of water = ~6 kWh

A bath costs today
0.60 € in Latvia

Lowest price today: 0.83 € Highest price today: 0.08 €

200 liters of water = ~7,5 kWh

An oven at full blast all day costs today
1.52 € in Latvia

 

1000W x 24 hours = 24 kWh

Boil 1 liter of water costs today
0.01 € in Latvia

Lowest price today: 0.01 € Highest price today: <0.01 €

Hot plate for 4 min = ~0,12 kWh

Bake a pizza costs today
0.09 € in Latvia

Lowest price today: 0.12 € Highest price today: 0.01 €

Oven for 30 min = ~1,1 kWh

Charge an electric car costs today
3.59 € in Latvia

Lowest price today: 5.00 € Highest price today: 0.48 €

Nissan Leaf 10-80% = ~45 kWh

More examples
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Understanding the electricity market in Latvia

Primary energy sources in Latvia

Latvia's energy sector primarily relies on a mix of resources. The country has a significant emphasis on renewable energy, particularly hydroelectric power, which is the main source of electricity. This reliance is part of a broader strategy to utilize sustainable and environmentally friendly energy sources.

Energy sources in Latvia

Alongside hydroelectric power, Latvia also utilizes other renewable sources like wind and solar energy, though to a lesser extent. The country's diverse energy mix is indicative of its commitment to reducing carbon emissions and promoting sustainable energy practices.

Integration into the EU electricity market

As a member of the European Union, Latvia is an active participant in the EU electricity market. This integration allows for the exchange of electricity across borders, enhancing energy security and market efficiency. Latvia's connection to neighboring countries enables it to import and export electricity, depending on demand and supply dynamics.

The interconnectivity with neighboring countries not only ensures a stable electricity supply but also encourages competition and price regulation in the market. This aspect of the electricity market is crucial in understanding the pricing and availability of electricity in Latvia.

Renewable energy initiatives

Latvia has been progressively increasing its focus on renewable energy. The country's investment in renewable energy technologies is part of a broader aim to reduce dependence on fossil fuels and decrease greenhouse gas emissions. Latvia's strategic geographical location offers significant potential for wind and solar power development.

The government's support for renewable energy initiatives is evident in its policies and investments. These initiatives are not only beneficial for the environment but also contribute to the stability and diversification of Latvia's energy supply.

Challenges and future outlook

Despite the progress in renewable energy, Latvia faces challenges in fully transitioning to sustainable energy sources. The need for modernizing energy infrastructure and ensuring consistent energy supply, especially during periods of low renewable energy generation, remains a challenge.

Looking ahead, Latvia aims to continue its journey towards a more sustainable energy future. This includes further integration into the European electricity market, increased focus on renewable energy sources, and enhancing energy efficiency. The country's commitment to these goals reflects its dedication to a sustainable and secure energy landscape.

Impact on consumers and businesses

The dynamics of Latvia's electricity market have direct implications for both consumers and businesses. The shift towards renewable energy and integration with the EU market can lead to more stable and potentially lower electricity prices in the long term. However, these transitions also require significant investment, which can impact short-term pricing.

For businesses, the evolving electricity market in Latvia presents both challenges and opportunities. Adapting to new energy sources and efficiency standards can be challenging, but it also opens up avenues for innovation and sustainable business practices.


Energy saving tips

Lower the temperature by one degree

Heating is one of the things that consumes the most electricity in a typical home. You save about 5% of the costs for heating for every degree you lower the interior temperature.

Switch to energy-saving light bulbs

Lighting is not the thing that uses the most electricity, but it can still be a good investment to switch to energy-efficient and LED lights. These provide up to 10x more light with the same amount of energy.

Questions and answers about electricity

What determines the electricity spot price?

Supply and demand determine the price of electricity in Europe. If there is a high production of electricity from power plants and demand is low, the price will fall. If, on the other hand, the production of electricity is small and demand is high, prices will increase. Therefore, the price of electricity is often highest in winter, as the need for electricity for heating is highest.

More questions and answers


All prices are current open market spot prices in the day-ahead segment without local vat, tax or other additions.

Timezone is Central European Time (CET) with Daylight Saving Time (DST). Current time: Sat, 20 Apr 2024 07:03

Data source is ENTSO-E