In November 2025, the average electricity price in the Latvian bidding area reached 110.94 EUR/MWh, which is 6% higher than in October. Compared to November 2024, the price was 25% higher year on year.
Lowest and highest 15-minute prices in November
- The lowest price was approximately −0.53 EUR/MWh in certain intervals.
- The highest price reached 690 EUR/MWh during several periods.
Key developments and trends in November
Electricity generation and consumption
- In November, approximately 491 GWh of electricity was generated in Latvia, which is 46% more than in October, increasing the share of domestic generation in total consumption. Electricity consumption rose by about 2% to approximately 649 GWh.
- Higher domestic generation helped reduce dependence on imports; however, the overall price level continued to reflect both increased demand and regional market conditions.
Price drivers
- Electricity prices in the Baltic region increased mainly due to lower wind power generation and colder weather, which raised electricity demand.
- Interconnector limitations and maintenance works in transmission networks (especially in Estonia) continued to affect the ability to import cheaper electricity from the Nordic countries, contributing to price differences among the Baltic states.
Winter outlook and future price trends
Initial forecasts for the electricity market in December indicate the possibility of lower prices, as winter often brings higher levels of domestic generation in the region. In addition, no major cross-border transmission maintenance works are planned that could significantly limit supply capacity.
By mid-December, the average electricity exchange price for the entire month is forecast at 103 EUR/MWh, although the month has not yet concluded.
