By Odd Gunnar Jakobsen and Katinka Bogaard
Volt Power Analytics anticipate significant shifts in 2024 for the Baltic region’s power landscape. With increasing renewable resources, changes in consumption, thermal capacity and hydro availability, we have observed a shift in the regions energy mix for 2024.
Key Points:
- Anticipated Increase: We predict a substantial uptick in the electricity production mix, totaling 2.3 TWh.
- Renewable Momentum: The surge in wind and solar power capacity in Lithuania emerges as the primary catalyst behind the projected production boost.
- Weather Dynamics: Normal weather conditions are poised to impact thermal and hydro power production, leading to adjustments in the overall energy equation.
These factors converge to mitigate the Baltic power balance deficit, foreseeably reducing it by approximately 1 TWh (-6.4%). Moreover, as renewable development gathers momentum, the deficit could shrink further by 5.5 TWh (-50%) by 2030, bolstering energy self-sufficiency.
