Feb 11 • 11:41 UTC 🇱🇹 Lithuania Lrytas

Cold Weather in February May Increase Electricity Price Fluctuation Risk

An expert warns that enduring cold weather in February could lead to increased electricity demands and fluctuations in price due to limitations in renewable energy production.

According to meteorologist Gytis Valaika from the Lithuanian Hydrometeorological Service, a cold snap experienced in early February is expected to persist throughout the month, with air currents moving from the Arctic resulting in continuous low temperatures. This prolonged cold weather is said to hinder the inflow of warmer air from the Atlantic Ocean, potentially leading to dryer conditions with fewer sunny days than average.

Moreover, M. Kavaliauskas emphasizes the significant effect of limited renewable energy production capabilities during the mid-winter months on electricity prices. As temperatures drop, there is an increased demand for electricity for heating purposes, which pushes up the overall demand. In February, solar power production remains constrained, and should any calm and less windy weather patterns arise, wind energy generation could also see reductions, necessitating the use of alternative, often more expensive, power sources to meet heightened demand.

Ultimately, this scenario indicates a potential risk for electricity price volatility in the Lithuanian market throughout February, as reliance on traditional energy sources may increase to compensate for the shortfall in renewable energy generation, thus impacting consumers financially.

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