Latvian Power Exchange Prices Climb to Over 34 Cents per Kilowatt-Hour This Week
The average Nord Pool electricity price in Latvia hit 344.92 euros per megawatt-hour on 2 November, roughly three times the September average. The swings within a day have revived debate about running appliances during the cheapest hours.
Electricity exchange prices in Latvia have been high this week. On Monday, 2 November, the average price on Nord Pool, the Nordic and Baltic power trading platform, was 344.92 euros per megawatt-hour, or 34.49 cents per kilowatt-hour excluding VAT. Tuesday's average was 311.39 EUR/MWh, and Wednesday, 4 November, came in at 282.13 EUR/MWh. For households on variable-price contracts, the time of day when appliances run can affect the bill.
Including VAT, the daily averages were about 41.74, 37.68 and 34.14 cents per kilowatt-hour. In some 15-minute intervals the price was considerably higher. By comparison, the September average in the Latvian price zone was 108.68 EUR/MWh, so the average on some days at the start of this week was about three times higher.
Prices vary within the day
On Wednesday, the most expensive morning hour, around 8:00, saw prices above 400 EUR/MWh, while around 21:00 the price fell to about 161 EUR/MWh, or 16.1 cents per kilowatt-hour. The swings have revived a social media discussion on whether washing machines and dishwashers should run in the evening or at night. A Threads user posted a screenshot from her electricity provider's app showing 21:00–23:00 as the best consumption window. Commenters said they use delayed start, that their dishwashers pick the cheapest time automatically, or that evening washing simply fits their daily routine. Others mentioned noise from neighbours running appliances at night.
Why prices fluctuate
In Nord Pool's day-ahead market, producers and buyers submit bids, and the price for each 15-minute interval forms where demand meets supply. It is influenced by weather (wind, sun), hydropower water availability, natural gas and CO₂ allowance prices, plant repairs, consumption in cold weather and interconnector capacity with neighbouring countries. When capacity is insufficient, cheap power cannot be delivered to a more expensive zone.
Is night washing worthwhile?
It depends on the contract. For a fixed-price contract, exchange swings do not change the bill. Users with variable-price contracts, according to the Public Utilities Commission (SPRK), the Latvian regulator, can save by consuming power when it is cheaper. Night is not always the cheapest time: the lowest price can also fall midday if there is strong wind or high solar output.
