Electricity prices in Lithuania rose by 22 percent last week, according to reports from TV3.lt, even as other sources indicate a more moderate increase of 2 percent in February, coinciding with colder weather across the region. The price fluctuations are linked to rising natural gas costs, according to Litgrid, the Lithuanian electricity transmission system operator.
Elektrum Lietuva, an energy company, reported the significant weekly price surge, but broader regional trends suggest a less dramatic increase over the entire month of February. LRT reported that electricity prices increased across the Baltic region during February. Delfi indicated that fixed-price plan tariffs jumped by 2.3 percent over the course of the week.
A new 65 megawatt (MW) solar park developed by Elektrum Lietuva in the Šalčininkai district was connected to the Litgrid grid in February, representing a 38 million euro investment. The park is expected to generate 82 gigawatt-hours (GWh) of electricity annually, enough to power approximately 28,000 households, according to Elektrum Lietuva. The company secured grid capacity for the project with 2.7 million euros in green guarantees from SEB bank in July 2023, as reported by Delfi.
This new solar park is part of Elektrum Lietuva’s broader expansion of renewable energy sources in Lithuania. The company currently operates six solar parks with a total capacity of 29.7 MW and is developing additional solar and wind projects with a planned capacity of nearly 350 MW. The Šalčininkai park utilizes a solar tracking system to maximize electricity generation.
Litgrid is also collaborating with the Lithuanian Navy to enhance the security of strategic infrastructure in the Baltic Sea, according to Atvira Klaipėda. The collaboration, formalized through a signed agreement on Monday, aims to bolster the protection of critical energy assets.
