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During the week, Brent oil prices rose by 5%, the wholesale price of electricity in Lithuania fell by as much as 57.2%, and prices for natural gas, diesel and gasoline also fell.
Wholesale electricity prices in Lithuania, Latvia and Estonia were identical, falling from EUR 109.9/MWh to EUR 47/MWh or 57.2 percent. In the Swedish zone SE 4, prices fell by 57.9 percent. – From EUR 76.9/MWh to EUR 32.4/MWh, electricity in Germany has become 51.4 percent cheaper. – from 85.7 Eur/MWh to 41.7 Eur/MWh. In Poland – 40.8 percent, up to 57.5 EUR/MWh, in Finland wholesale electricity prices fell by 68.2 percent. – from 98.9 Eur/MWh to 31.5 Eur/MWh.
Looking at current electricity price futures, it can be seen that electricity prices in Germany are expected to be in the range of 76-110 EUR/MWh in the coming years, while prices in Northern Europe are expected to be in the range of 33-67 EUR/MWh. In the week in question, Lithuanian wholesale electricity prices were closer to German prices.
In Lithuania, electricity demand fell by 7.1 percent in the week in question. – up to 250.2 GWh. 65% were produced in the country. all necessary electricity. Total electricity production in our country increased by 18.2 percent from December 18 to 24 compared to the previous week. and reached 162.3 GWh. The electricity shortage was compensated for by imports from Sweden and Latvia.
Natural gas remains expensive. In the TTF outlet in the Netherlands, the average price fell by 4.2 percent compared to the previous week. – from 39.2 Eur/MWh to 37.5 Eur/MWh.
According to natural gas price futures, natural gas prices for the coming year are forecast at a similar level to last week and are expected to fluctuate between 30-40 EUR/MWh.
The filling of European gas storage facilities is currently 87%. (Last week it was 88.8%). The filling level of the Inčukalni gas storage facility is now around 80.5 percent. A week ago the storage was 82.4 percent full.
Will be tested from December 18th to 22nd. During this period, the LNG terminal in Klaipėda was 40% operational. Capacity. 241.2 GWh of natural gas were imported to Lithuania via the Klaipėda terminal (previous week – 228 GWh). 42.8 GWh of gas was purchased from Latvia (previous week – 154.3 GWh). In Lithuania, 284.4 GWh of natural gas was consumed (previous week – 373.6 GWh).
Biofuels continue to become slightly more expensive in Lithuania. In the week under consideration, the price of biofuel in our country was 0.2 percent. higher than the previous week – it reached 23.19 Eur/MWh. At the same time last year, biofuel in Lithuania cost 34.33 EUR/MWh.
The average Brent oil price reached $79.1/bbl during the reporting week, up 5%. higher than the previous week when it was $75.3/bbl. Looking at the latest Brent crude oil futures, prices next year are expected to be $1-4 per barrel higher than estimated a week ago.
The cheapest fuel in the Baltic Sea region remains Lithuania. Petrol is cheaper than diesel – the average prices are 1.44 EUR/l and 1.49 EUR/l respectively.
The average gasoline prices in the Baltic states are currently 1.6 to 4.7 percent. lower than 12 months ago, and prices in Poland and Germany are higher – by 5.0 percent each. and 1.6 percent.
Average diesel prices have fallen by 4.3 to 10.7 percent in all compared countries over the last 12 months. During this period, gasoline became cheaper in Estonia (4.7 percent) and diesel in Lithuania (10.7 percent).
in 2023 In the first quarter, the average sales costs for gasoline were 0.09 EUR/l and for diesel 0.14 EUR/l. In the second quarter, the average selling costs of gasoline and diesel were each EUR 0.10/l. In the third quarter, average gasoline sales remained the same (0.10 EUR/l), while diesel sales fell to 0.07 EUR/l. In the fourth quarter (October 1 – December 18), distribution costs increased: gasoline is 0.15 EUR/l, diesel – 0.12 EUR/l.
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