RIGA, April 28 (Xinhua) -- Electricity prices in the Baltic bidding areas of the Nord Pool exchange surged by an average of 56 percent last week, compared to the previous week, LETA reported on Monday, citing Latvia's energy group Latvenergo.
Last week, the electricity price jumped 46 percent to 94.9 euros (108 U.S. dollars) per MWh in Latvia, 48 percent to 94.55 euros per MWh in Lithuania and 78 percent to 95.01 euros per MWh in Estonia.
According to Latvenergo, electricity prices rose in nearly all Nord Pool bidding areas last week as the system's average price hit 53.24 euros per MWh, a 2.4-times increase week-on-week.
The price hikes in the Baltic countries were caused primarily by a 32 percent drop in wind power generation. In addition, electricity imports to the Baltics dropped by 6 percent, said Latvenergo.
Total electricity consumption in the Baltics rose by 2 percent week-on-week to 462 GWh. (1 euro = 1.14 U.S. dollar)
