Due to the damage to the Estonian-Finnish electricity cable EstLink 2, Thursday’s electricity price in Latvia – €33 per megawatt hour – will be replaced Friday by a tariff four times higher, or €142 per megawatt hour, Climate and Energy Minister Kaspars Melnis (Greens and Farmers Union) said on social media.
The majority of the Latvian population will not be directly affected by these price fluctuations, as more than 80% use fixed-price contracts. These fluctuations only affect those who buy electricity at stock prices.
“The outage of EstLink 2 has not affected Latvia’s electricity supply, the Ministry of Climate and Energy said on Thursday. Prime Minister Evika Siliņa (New Unity) said on her “X” account that the Baltic States currently have sufficient generation capacity. Latvia is ready to provide assistance if needed in the investigation of the incident.
The Estonian and Finnish transmission system operators have been carrying out diagnostic work since Wednesday, December 25 at midday, when an unplanned outage of the EstLink 2 cable was detected. Measurements carried out by the Estonian and Finnish authorities indicate that the location of the potential EstLink 2 cable fault is in the Gulf of Finland. Work is ongoing to identify the specific fault location.
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