Electricity in Latvia in 2023

As per 2023 data, more than half of Latvia's electricity consumption is based on low-carbon energy, about 64% to be precise. The major chunk of this low-carbon energy is contributed by hydropower that supplies a staggering 56% of the country's electricity. In contrast, the reliance on fossil fuels is considerably less, accounting for just over one-fifth of the national electricity, with gas usage forming the entirety of this percentage. The remainder of the electricity usage in Latvia is made up by net imports which make up approximately 13%. Other sources of low-carbon electricity generation, like wind and biofuels, have a comparatively minuscule contribution, at just under 4% each.

Suggestions

Minimizing dependency on fossil fuels and ramping up low-carbon energy generation is a vital strategy for Latvia. Looking at global patterns of successful sustainable energy usage, particularly from countries with similar characteristics, Latvia has significant untapped potential. Denmark's use of wind energy, which amounts to 59% of their electricity, is an inspiration. Similarly, Slovakia's high adoption rates of nuclear energy could serve as a blueprint for Latvia's future energy infrastructure planning. Alternatively, Latvia could emulate Uruguay, which has leveraged its geography to generate 40% of its electricity from wind, thus proving the feasibility and benefits of pursuing low-carbon sources.

History

Analyzing Latvia's history of low-carbon electricity, the trend in hydroelectricity generation has seen many ups and downs over the years. The late 1980s and early 1990s saw an initial increase in hydropower electricity generation, peaking in 1990, followed by a noticeable decline until 1992. This period of instability was followed by a recovery during the late 1990s with a substantial growth till 1999, after which there was another notable dip. The first decade of the 21st century experienced a similar pattern; growth until 2004, a slide towards 2006, culminating in a significant rise in 2017. However, 2018 witnessed a heavy drop in the trend almost negating the increase from the previous year. Presently, in 2023, the power generation stands comfortably high.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources