Electricity prices in Latvia 2024
In 2024, the average wholesale day-ahead electricity price in Latvia was € 0.0876 /kWh (▼7% vs 2023). Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2024
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2024 | € 117.21 | € 0.1172 | 928 |
| February 2024 | € 74.86 | € 0.0749 | 848 |
| March 2024 | € 68.10 | € 0.0681 | 763 |
| April 2024 | € 60.36 | € 0.0604 | 741 |
| May 2024 | € 76.13 | € 0.0761 | 649 |
| June 2024 | € 92.28 | € 0.0923 | 635 |
| July 2024 | € 98.34 | € 0.0983 | 665 |
| August 2024 | € 107.09 | € 0.1071 | 672 |
| September 2024 | € 84.24 | € 0.0842 | 688 |
| October 2024 | € 92.22 | € 0.0922 | 742 |
| November 2024 | € 89.11 | € 0.0891 | 800 |
| December 2024 | € 90.71 | € 0.0907 | 827 |
Latvia's electricity generation is dominated by three large hydropower plants on the Daugava river — Pļaviņas (894 MW), Riga (402 MW) and Ķegums (264 MW) — which together cover around 45% of national supply in average years. AST, the national TSO, operates the LV bidding zone within the Baltic synchronous area, fully desynchronized from Russia in February 2025 alongside Estonia and Lithuania. Latvenergo, the state utility, also operates the 432 MW Riga CHP gas plant providing district heating and flexibility.
Wind capacity has lagged Estonia and Lithuania at under 200 MW, but a 2 GW pipeline of onshore and offshore projects is in permitting. Latvia imports around 30% of consumption from Estonia (via the EstLink-coupled Nordic price area) and Lithuania, plus occasional flows from Sweden via the SE4 zone.
Day-ahead clearing happens on Nord Pool's Baltic price area.