The Latvian government has approved an updated national energy and climate plan, aimed at meeting the EU’s climate targets by 2030, LSM reports. The plan outlines five key areas: decarbonisation and renewable energy, energy efficiency, energy security, integration with the EU’s internal energy markets, and research, innovation, and competitiveness. The plan includes around 250 measures…
The Baltic power transmission system operators (TSO) will notify Russia and Belarus about their decision to withdraw from the so-called BRELL agreement and the Moscow-controlled IPS/UPS transmission system in the coming weeks, Lithuania’s Ministry of Energy announced, BNS reports. The Baltic TSOs are fully ready to synchronise their power grids with the continental European system…
Inflation in Estonia is expected to increase as of autumn 2024, with overall inflation projected to reach 4% by the end of the year, according to some analysts, ERR reports. The analysts attribute the anticipated rise to persistently high energy prices and wage growth driving up service costs. Despite a significant 40% surge in grocery…
Consumer prices in Latvia rose by 1.4% in June 2024, compared to the same month in 2023, according to data from the Central Statistical Bureau of Latvia (CSP), LETA reports. Compared to May 2024, consumer prices dropped by 0.1%, however. Average prices in a 12-month period rose by 1.9% when compared to the previous 12…
Latvia’s state-owned postal services provider, Latvijas Pasts, has submitted a new tariff plan for universal postal services to the Public Utilities Commission (SPRK), LETA reports. The company plans to raise tariffs on the domestic delivery of letters, parcels, and press publications as well as for cross-border postal services as of 2025. Latvijas Pasts said that…
Lithuania has the biggest installed capacity of wind energy in the Baltic States, according to Toms Naburgs, managing director of the Latvian Wind Energy Association (LVEA), LSM reports. Lithuania has 1,400 MW of installed wind turbines, compared to 400 MW in Estonia and just 140 MW in Latvia. Moreover, Lithuania is building and planning even…
Slowing inflation and strong wage growth in Estonia have increased people’s purchasing power, according to the Bank of Estonia, BNS reports. In June 2024, the consumer price index rose by only 2.5% on year, which was the slowest rate in three years, primarily due to falling energy prices. At the same time, most services have…
Estonia’s transmission system operator, Elering, plans to replace the damaged EstLink 2 undersea power cable by the end of August 2024, ERR reports. Preparatory work is ongoing, with the reserve cable sourced from Sweden. The power cable, which links Estonia and Finland, failed unexpectedly in January 2024. The fault was located at a complex point…
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…