Electricity in Latvia in 2023/2024

As of the last 12 months, from October 2023 to September 2024, Latvia's electricity consumption shows a significant tilt towards low-carbon energy sources. More than half, approximately 65%, of the electricity comes from low-carbon sources, with hydropower alone contributing a substantial 51%. Fossil fuels, primarily from gas, account for about 25% of the electricity consumed. Net imports stand at roughly 10%, while biofuels, solar, and wind contribute smaller portions—around 5%, 5%, and 4% respectively. This indicates that Latvia not only prioritizes low-carbon electricity but also has diversified its portfolio to reduce reliance on fossil fuels, although there is room for further enhancement.

Suggestions

To further increase low-carbon electricity generation, Latvia can draw inspiration from several successful countries, especially those with geographical and economic similarities. For instance, Slovakia and Czechia both significantly leverage nuclear energy, generating 60% and 41% from this source respectively. With its favorable wind conditions, Denmark has achieved an impressive 61% of its electricity from wind power, a tactic Latvia could adopt by expanding its wind energy infrastructure. Additionally, Sweden's balance of nuclear (31%) and wind (22%) showcases the benefits of diversified low-carbon energy sources. By investing in both nuclear and wind power development, Latvia can enhance its clean energy generation, mitigate climate change impacts, and improve energy security.

History

In reviewing the history of low-carbon electricity in Latvia, hydropower has experienced notable fluctuations over the decades. In the late 1980s, there were significant variances, with an increase of 0.7 TWh in 1987 followed by a similar decrease in 1988. The 1990s saw further ebbs and flows, such as a decrease of 1.2 TWh in 1991 and a substantial rise of 1.4 TWh in 1998. The early 2000s were relatively stable but marked by increases and decreases around the 1 TWh mark. In more recent years, notable changes include a surge of 1.9 TWh in 2017, contrasted by a decline of the same amount in 2018, and a recent increase of 1 TWh in 2023. This historical pattern underscores the potential for expanding other low-carbon sources to ensure stable and reliable electricity generation.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources