Baltic: Grid synchronisation to raise electricity prices minimally: minister

The planned synchronisation of the Baltic electricity grids with Western Europe in February 2025 will slightly increase electricity prices for consumers, according to Lithuanian Energy Minister Dainius Kreivys, BNS reports. The impact on prices will be minimal, around a few percent, he said. Lithuanian power grid operator Litgrid estimates that the synchronisation will cost consumers an additional EUR 0.50 per month in Lithuania, EUR 0.60 in Estonia, and around EUR 1 in Latvia. Kreivys emphasised that infrastructure availability and high local production were key to controlling electricity prices. The Baltic States are set to terminate their contract on grid synchronisation via the BRELL ring with Russia and Belarus by 7 August 2024.