Lithuania has stepped up monitoring of the NordBalt power cable linking Lithuania and Sweden, Energy Minister Zygimantas Vaiciunas announced, ELTA reports. Speaking in an interview with Ziniu Radijas, Vaiciunas noted that the undersea power interconnection was very important for Lithuania’s electricity market. He stressed that the response to acts of sabotage on critical infrastructure should…
The Estonian government may allocate EUR 100mn to state-owned energy company Eesti Energia to speed up the construction of a new gas power plant in Narva, ERR reports. Also, the government is discussing the possible differentiation of renewable energy fees for companies and reducing network tariffs or changing electricity taxes for private consumers. The moves…
Lithuania will propose that the three Baltic States build a joint power plant to ensure flexible electricity production and energy security, Lithuanian Energy Minister Zygimantas Vaiciunas announced, BNS reports. Speaking on LRT, the minister suggested that the power plant could run on gas. He did not elaborate on the possible technology and location of the…
The average annual price of electricity in Estonia stood at EUR 87.27 per MWh in 2024, which was down from EUR 90.79 per MWh in 2023, according to data from the Nord Pool electricity exchange, ERR reports. The highest average price was in January 2024 (EUR 126.5 per MWh) and the lowest in April 2024…
Estonian President Alar Karis has rejected an amendment to the law on the use of natural resources, ERR reports. The legislative changes would suspend oil shale mining permits until 2026, allowing time to assess the industry’s compliance with EU climate goals. The president argued that the amendment ran counter to the Constitution and imposed disproportionate…
Latvia and Lithuania refused to accept a new package of EU sanctions against Russia that would have allowed companies to continue doing business in Russia, BNS reports. Three unnamed EU diplomats told Politico that Latvia and Lithuania blocked a clause that included exceptions allowing EU companies to continue importing and exporting sanctioned goods. The clause…
Lithuania’s state-owned company, KN Energies, has acquired the LNG carrier, Independence, from Norway’s Höegh Evi (former Höegh LNG) for EUR 138mn, BNS reports. The handover ceremony was attended by the presidents of all three Baltic States and Poland. The floating storage regasification unit (FSRU), which serves as Lithuania’s LNG terminal, arrived at the port of…
Lithuania’s incoming centre-left government has revealed its draft programme for the next four years, LRT reports. The new coalition plans to focus on welfare, with more child benefits and better accessibility to health care and education. Also, the government may make changes to tax policy, moving towards progressive taxation. The new government plans to reverse…
The first ship carrying Latvia’s strategic oil reserves arrived at the Freeport of Riga on 2 December 2024, the Ministry of Economy announced, LETA reports. Economy Minister Viktors Valainis said that the state would purchase 20% of the required reserves annually. The state would thus be in possession of 100% of the oil reserves in…