How much does electricity cost in Latvia in 2025?In June 2025, the average electricity price in the Latvian bidding area decreased to EUR 43,06 per megawatt hour (EUR/MWh), which is 37% less than in May, while compared to June 2024, the price is 53% lower.
Why does Latvia import and export electricity?Latvia's connection to neighboring countries enables it to import and export electricity, depending on demand and supply dynamics. The interconnectivity with neighboring countries not only ensures a stable electricity supply but also encourages competition and price regulation in the market.
Where is the first battery energy storage system in Latvia?On November 1 Latvia’s largest wind energy producer Utilitas Wind opened the first utility-scale battery energy storage battery system in Latvia with a total power of 10 MW and capacity of 20 MWh in Targale, Ventspils region.
What energy sources does Latvia use?Alongside hydroelectric power, Latvia also utilizes other renewable sources like wind and solar energy, though to a lesser extent. The country's diverse energy mix is indicative of its commitment to reducing carbon emissions and promoting sustainable energy practices.
How much did price hours increase in Latvia compared to June 2024?Compared to the previous month, the number rose by 174 % in Latvia, by 133 % in Lithuania, and by 196 % in Estonia. In comparison to June 2024, the number of negative price hours increased by 294 % in both Latvia and Lithuania, and by 325 % in Estonia.
Are new wind farms a good investment for Latvia's energy security?I am pleased that the bar has been set high for developers of new wind farms, which also plays an important role in the context of Latvia’s energy security,” said Climate and Energy Minister of Latvia, Kaspars Melnis. Given the total investment in the project, the OP Corporate Bank provided loan financi
Market Forecast By Type (Lithium-Ion Batteries, Hydrogen Storage, Flywheel Energy Storage, Compressed Air Energy Storage), By Application Area (Wind Energy Storage, Offshore
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This autumn, the Battery Energy Storage System (BESS) will be connected to the Latvian electricity transmission system, contributing. The total project investments amount to €7
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The plans of the Group to invest in battery energy storage system technology by installing 250 MW of power with a capacity of 500 MWh by 2030 is an affirmation of the
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Shallower evening peaks once flexible resources—battery storage, demand response, Latvian pumped hydro—can arbitrage the high evening prices. Until then, the twin‑peak profile will
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To get a better idea of the amount of energy stored, this is enough to power one electric car for 115 000 km, one household washing machine for 19 000 washing cycles or
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This analysis includes a comprehensive Latvia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply
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Latvia is increasingly investing in renewable energy sources, aiming to enhance energy independence and reduce reliance on fossil fuel imports. The energy market is a broad term
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In August 2025, the average electricity price in the Latvian bidding area increased to EUR 80,2 per megawatt hour (EUR/MWh), which is 74% more than in July, while compared to August
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Industrial energy storage power supply large capacity battery A battery energy storage system (BESS), battery storage power station, battery energy grid storage (BEGS) or battery grid
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About us Sure Power Energolukss is the leading full-service supplier of energy-efficient and sustainable backup and guaranteed power supply solutions in Latvia since 1997. Our services
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A solar PV plant in Latvia that Latvenergo deployed via subsidiary Elektrum. Image: Latvenergo. Latvia state-owned utility and power generation
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Additional notes: Capacity per capita and public investments SDGs only apply to developing areas. Energy self-sufficiency has been defined as total primary energy production divided by
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Renewable energy includes wind, solar, biomass and geothermal energy sources. Almost half of the electricity used in the country is provided by renewable energy sources. The main
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BYD is specialized in battery energy storage, micro power grid and other new energy research and development, production, sales and service for 13 years, all covered from home energy
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To get a better idea of the amount of energy stored, this is enough to power one electric car for 115 000 km, one household washing machine for
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Rolls-Royce supplies mtu large-scale battery storage to secure Rolls-Royce has received an order from the Latvian transmission system operator Augstsprieguma tikls (AST) to supply an
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Engaged in the R&D, design, manufacturing and sales of independent brand mobile energy storage power products, is a well-known brand of mobile energy storage power at home and
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This analysis includes a comprehensive Latvia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas
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Energy storage systems are an essential element of Latvia''s path towards a sustainable and energy-independent future. The importance of these technologies is being
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Reliable electricity supplier in Latvia. We offer competitive tariffs, flexible conditions, and uninterrupted power supply for businesses and households.
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Optimal operation of virtual power plants with shared energy storage The emergence of the shared energy storage mode provides a solution for promoting renewable energy utilization.
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In 2024, electricity prices in the Baltic region fluctuate depending on market factors, including supply, demand, geopolitics and generation conditions. For example, at the
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Latvia''s energy landscape is set to undergo a significant transformation in 2025, with the implementation of advanced battery energy storage systems (BESS) by the "AJ
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In June 2025, the average electricity price in the Latvian bidding area decreased to EUR 43,06 per megawatt hour (EUR/MWh), which is 37% less than in May, while compared to June 2024, the price is 53% lower.
Latvia's connection to neighboring countries enables it to import and export electricity, depending on demand and supply dynamics. The interconnectivity with neighboring countries not only ensures a stable electricity supply but also encourages competition and price regulation in the market.
On November 1 Latvia’s largest wind energy producer Utilitas Wind opened the first utility-scale battery energy storage battery system in Latvia with a total power of 10 MW and capacity of 20 MWh in Targale, Ventspils region.
Alongside hydroelectric power, Latvia also utilizes other renewable sources like wind and solar energy, though to a lesser extent. The country's diverse energy mix is indicative of its commitment to reducing carbon emissions and promoting sustainable energy practices.
Compared to the previous month, the number rose by 174 % in Latvia, by 133 % in Lithuania, and by 196 % in Estonia. In comparison to June 2024, the number of negative price hours increased by 294 % in both Latvia and Lithuania, and by 325 % in Estonia.
I am pleased that the bar has been set high for developers of new wind farms, which also plays an important role in the context of Latvia’s energy security,” said Climate and Energy Minister of Latvia, Kaspars Melnis. Given the total investment in the project, the OP Corporate Bank provided loan financing.
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The global industrial and commercial energy storage market is experiencing unprecedented growth, with demand increasing by over 350% in the past three years. Energy storage cabinets and lithium battery solutions now account for approximately 40% of all new commercial energy installations worldwide. North America leads with a 38% market share, driven by corporate sustainability goals and federal investment tax credits that reduce total system costs by 25-30%. Europe follows with a 32% market share, where standardized energy storage cabinet designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at a 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting commercial energy storage for peak shaving and energy cost reduction, with typical payback periods of 3-5 years. Modern industrial installations now feature integrated systems with 50kWh to multi-megawatt capacity at costs below $450/kWh for complete energy solutions.
Technological advancements are dramatically improving energy storage cabinet and lithium battery performance while reducing costs for commercial applications. Next-generation battery management systems maintain optimal performance with 45% less energy loss, extending battery lifespan to 18+ years. Standardized plug-and-play designs have reduced installation costs from $900/kW to $500/kW since 2022. Smart integration features now allow industrial systems to operate as virtual power plants, increasing business savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for commercial storage installations. New modular designs enable capacity expansion through simple battery additions at just $400/kWh for incremental storage. These innovations have significantly improved ROI, with commercial projects typically achieving payback in 4-6 years depending on local electricity rates and incentive programs. Recent pricing trends show standard industrial systems (50-100kWh) starting at $22,000 and premium systems (200-500kWh) from $90,000, with flexible financing options available for businesses.