Lithuania’s electricity consumption: highest in a quarter of a century

Lithuania’s electricity consumption: highest in a quarter of a century

Feb 22, 2017

The final electricity consumption in Lithuania totalled 10.47 kilowatt hours (or 10.47 terawatt hours, TWh) in 2016. Residents, businesses, agriculture and transport used 4.5% more electricity compared to 2015. The growth rate in agriculture was as high as 8.4%, service sector 5.7%, residents 4.3%, and transport sector 4%. The lowest year-on-year growth rate (3.5%) was recorded in the industrial sector. “The demand for electricity in Lithuania last year was the highest since 1992. Taking into account that industrial and domestic electricity is used more efficiently, the actual increase is even greater. Over the past few years the electricity demand of industrial and business sectors have been growing the most, whereas transport sector holds the biggest potential for growth. It could be used by changing diesel trains into electric ones as in most parts of Europe”, says Daivis Virbickas, CEO of Litgrid, the Lithuanian electricity transmission system operator, a CEEP member. [Tweet "Two thirds of electricity consumed in Lithuania was imported"]Two thirds of electricity consumed in Lithuania was imported. The majority (37%) was imported from Latvia, Estonia and Finland, 27% from Sweden via NordBalt link, 5% from Poland via LitPol Link, and the remaining part from third countries. “The economy is growing, and the efficiency of using the electricity transmission infrastructure is increasing.  It is obvious that our investments in the grid are beneficial to users: the cross-border power links with Sweden and Lithuania – NordBalt and LitPol Link – brought down the wholesale electricity price by 13%. Scandinavian electricity is the cheapest in the region and it is no wonder that Sweden with its abundant hydro resources has become [...]
Falling Oil Prices – Who’s to Blame?

Falling Oil Prices – Who’s to Blame?

Jan 28, 2015

A great deal of nonsense is being talked about conspiracies behind the Saudi decision NOT to cut output - to dish the Russians, to dish the American frackers, to regain OPEC control etc, etc.  In plain fact it is all quite straightforward. There is now a huge world surplus of oil (with masses more coming on stream in the next few years), a growing surplus of gas (both piped and LNG-traded), a flattening of energy demand growth everywhere - including in Asia - and not just because of recession, but because there has been a step change in energy-use efficiency (and there will be a lot more, just as much in China as elsewhere). And as Japan gets back to nuclear, under re-elected and strengthened PM Shinzo Abe, expect a further big easing in global oil and gas demand there as well. In these conditions the Saudis (and Kuwaitis, and Emirates) are not going to cut production. Why should they? They know it will make no difference. All that will happen is that they lose market share. Even if OPEC was a disciplined group, which no longer is, non-OPEC producers would simply fill the gap. All this is occurring even while several oil producing regions are being held back -e.g Iran under sanctions, Iraq because of the ISIS threat, Libya because of political and tribal chaos, Syria submerged in war, Nigeria because of northern problems and so on. Think what happens to world oil supply if any of these areas begin to pick up and add a few more million b/ds, for which they have ample capacity. [Tweet "'no-one [...]