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Wholesale electricity price in Latvia

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

Current Price

74.37

EUR/MWh

24h Average

76.7

+76.9% vs. yesterday

24h Low

13.8

24h High

193.8

Renewable share

99%

Nuclear share

0%

Fossil share

0%

Price Chart

Current Generation Mix

Solar: 97.5% (1,211 MW)
Other: 1.4% (17 MW)
Biomass: 1.1% (14 MW)
Solar97.5%
Other1.4%
Biomass1.1%

Total: 1.2 GW

The current wholesale electricity price in Latvia is 74.37 EUR/MWh (7.44 ct/kWh). Over the past 24 hours, prices have ranged from 13.8 to 193.8 EUR/MWh, with an average of 76.7 EUR/MWh.

The electricity generation in Latvia currently consists of 99% renewable sources, 0% nuclear, and 0% 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