EU EnergyPrices

Wholesale electricity price in Latvia

LV · Day-ahead spot prices · ENTSO-E Transparency Platform

Current Price

321.93€/MWh

24h Average

225.5€/MWh

+107.3 %vs. yesterday

24h Low

61.0€/MWh

24h High

408.6€/MWh

Renewable share

47%

Nuclear share

0%

Fossil share

53%

Price Chart

Current Generation Mix

Natural gas: 52.8% (436 MW)
Wind onshore: 21.6% (178 MW)
Solar: 21.3% (176 MW)
Biomass: 4.2% (35 MW)
Natural gas52.8%
Wind onshore21.6%
Solar21.3%
Biomass4.2%

Total: 0.8 GW

The current wholesale electricity price in Latvia is 321.93 EUR/MWh (32.19 ct/kWh). Over the past 24 hours, prices have ranged from 61.0 to 408.6 EUR/MWh, with an average of 225.5 EUR/MWh.

The electricity generation in Latvia currently consists of 47% renewable sources, 0% nuclear, and 53% fossil fuels. The generation mix directly influences wholesale prices — hours with high wind and solar production typically see lower prices, while gas-fired generation during peak demand drives prices higher.

FAQ

Why do wholesale prices change every hour?
Electricity cannot be stored economically at scale, so supply must match demand in real-time. Every hour has different conditions: demand is low at night and high during morning/evening peaks. Solar generation peaks at noon, wind varies with weather. The price reflects this hourly balance — when supply is abundant (sunny midday, strong winds), prices drop. When gas plants must run to meet peak demand, prices spike. This is why you see such dramatic swings within a single day.
What influences the price in this bidding zone specifically?
Each bidding zone has a unique price based on its local supply-demand balance and interconnector capacity with neighboring zones. Key factors for this zone include: the installed generation capacity (solar, wind, nuclear, gas, hydro), weather conditions affecting renewable output, demand patterns (industrial activity, heating/cooling needs), available import/export capacity through cross-border interconnectors, and fuel prices (especially natural gas, which often sets the marginal price).
Can consumers benefit from low wholesale prices?
Yes, increasingly so. Many European countries now offer dynamic electricity tariffs that pass wholesale prices through to consumers (with a markup for network charges and taxes). On days with negative wholesale prices, consumers with dynamic tariffs can effectively be paid to consume electricity. However, most households are still on fixed-rate contracts where the wholesale price has only an indirect, delayed effect — typically reflected in annual price adjustments by the utility.

Source: ENTSO-E Transparency Platform · Updated hourly