Crucial intelligence to understand the changing dynamics of the Baltic energy market
The Baltics, spearheaded by both Estonia and Lithuania, are boldly pursuing ambitious decarbonisation goals, navigating challenges like oil shale power generation and import dependency.
Simultaneously, policymakers are striving for complete independence from Russian gas. The key to addressing both challenges lies in accelerating the deployment of renewables. To bolster the transition, additional funding is being injected into support schemes for solar and onshore wind, boosting auction volumes. However, this surge in renewable initiatives amplifies the significance of merchant market risk. As the region charts its course toward a sustainable future, balancing the urgency of renewable expansion with the complexities of merchant market dynamics is pivotal.
What you need to know about the market
- The Baltics are all aiming to achieve up to 100% of final electricity consumption to come from renewables.
- All Baltic states aim to have the first offshore wind farms online around 2030 with the help of competitive tenders, which have already attracted multiple bidders.
- 2025 will bring about full synchronisation with CESA (Continental European Synchronous Area).
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Laura Raud Pettersson
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