Latvian power averaged €414/MWh on Monday with a €669/MWh peak; Tuesday is also set above €400/MWh

The wholesale electricity price in Latvia rose on Monday, 9 November, to an average of €414.12/MWh in the Latvian zone of the Nord Pool exchange, according to data cited by Dienas Bizness and BNN. The most expensive quarter-hour was 17:45–18:00, at €669.01/MWh, and the cheapest was 05:30–05:45, at €218.98/MWh. The average for the whole of 2025 was €85.72/MWh.

What comes next. For Tuesday, 10 November, the announced average price is €409.31/MWh, with a peak of €631.88/MWh between 17:00 and 17:15. According to TVNET/LETA, the average for the first nine days of November is €278/MWh, more than double the October average.

Why. AST board member Gatis Junghāns explained that more expensive gas on international markets, against the backdrop of the conflict in Iran, has raised costs for thermal power plants, while colder weather has increased consumption. Solar and wind covered about 40% of Baltic consumption in October, but only about 20% since the start of November. The Baltic states have imported roughly a third of their electricity from the Nordic market, but interconnections are not enough to replace expensive thermal plants. Latvenergo's explanations published by TVNET add the Daugava river flow, about a third below last year, Nordic nuclear availability of 55% compared with 85% last year, and about 1,000 MW of thermal capacity under repair in Latvia and Lithuania, expected back at the end of November.

The week's figures. Last week the average price in Latvia was €265.46/MWh, 50% higher than the week before, according to Latvenergo; in Lithuania it was €278.24/MWh and in Estonia €186.76/MWh. Latvian generation covered 95% of consumption.

Who feels it. According to TVNET/LETA, about 85% of Latvian households have fixed-price contracts, while about 15% have exchange-linked contracts and feel the swings directly. Alda Ozola, chair of the Public Utilities Commission (SPRK), said it is too early to estimate the long-term effect.

Real-time data for the country are on the country page