News

23.11.2023

Published electricity and natural gas forecast report for Q1 2024

Experts from "Alexela Latvia" in electricity and natural gas released today an "Energy and Natural Gas Market Overview," summarizing the events and trends in the electricity and natural gas markets for the last quarter of the previous year and providing forecasts for the first quarter of this year. In the closing quarter of the previous year, average monthly prices remained at a similar level to the previous period, but significant fluctuations were observed on a weekly basis. During this period, the average weekly electricity prices fluctuated around ~100 EUR/MWh. In November, a price increase of up to 20% was recorded, mainly associated with an increase in consumption and a rapid temperature drop in the NordPool region, as well as unplanned outages of Finland's Olkiluoto 3 nuclear power plant. Experts predict that hydrological conditions in Scandinavia and Latvia will influence prices in the first quarter of 2024. The rapid drop in water reservoir levels in Scandinavia, already experiencing a deficit, will impact future prices. The stable operation of nuclear power plants will be crucial, and during periods of high demand, interruptions in their operation can cause price jumps. Weather forecasts, including wind energy and the operation of fossil fuels, will continue to significantly impact the overall dynamics of energy prices. "The current hydrological situation in Scandinavia and Latvia is crucial as it may create challenges in the energy market. The importance of hydroelectric power to the stability of the overall energy system will only increase in the coming months. Meanwhile, the operation of nuclear power plants will be a factor determining price stability, especially during periods of high demand," said Edgars Legzdiņš, an energy expert and Corporate Customer Relations Manager at "Alexela Latvia." Analyzing natural gas trends, one of the most significant elements is the relationship between supply and demand, which has changed dynamics, especially compared to the third quarter of the previous year. Geopolitical aspects were overshadowed this time by other stronger factors—Norway's pipeline gas exports reached record highs in December, and the United States continued massive exports to Europe due to weak Asian demand and restrictions on the Panama Canal preventing the U.S. from sending gas to Asia. A warm start to the winter in Europe in 2023 reduced natural gas consumption. "The growing volumes of wind generation in electricity production helped reduce natural gas consumption. Overall, in determining the price for the fourth quarter, the decisive factor was European natural gas inventories, which, although decreased after reaching record highs in November, are still very high, providing a convincing guarantee of sufficient natural gas for Europe this winter," said Legzdiņš. "The macroeconomic situation currently does not put pressure on natural gas demand, and industry experts give optimistic forecasts for European natural gas inventories at the end of the heating season.   You can get acquainted with the current "Energy Market Review" on the company's official YouTube platform.

03.10.2023

The amount invested in planting trees is so small compared to how good it is for nature

"The idea that with each refueling together with Alexela I make a small contribution to the Estonian forest is cool. And to be honest, I've pretty much only refueled there since joining. Just because of the principle," admits Rasmuss Rīmans, a loyal member of the Alexela community program. The man has been an Alexela client for the past five years and in the community program for just over three years. Why trees? In addition to preserving the greenery of the house, planting trees is especially related to the well-being of the environment. An average-sized tree can remove about 600 kilograms of carbon dioxide from the atmosphere during its lifetime. In other words, trees symbolize our pure nature. But it all works thanks to the community members who are added every day. "Such an event is actually very noble. Planting trees is a great way to help the environment and the ecosystem," says Rasmus. He himself saw the ad while filling up at Alexela and searched for more information on the Internet when he got home. After many years of participating in the program, he has recommended it to work, friends and family - hopefully some of these people have started contributing to tree planting. He is very happy with the community program and is happy that more and more people are joining. “I remember when I started, we were still a handful. I recently checked and it already has over 50,000 members and over a million plants. Not a bad result," he says. Even small investments have a positive impact on the environment According to Rasmus, Estonians are aware of the topic of saving the environment, but little is invested. “Although I can see that things are slowly improving. I hope that with such small contributions, everything will change for the better, and the laziest will also start treating the environment more sparingly,» he says. He himself actively tries to save nature. "I try to create as little waste as possible. If it still hurts to wear or use the thing, I will. Recycling has become very popular in our family. If we have to buy something, we try to choose better quality things, because then we don't waste useless energy on fixing things and we don't have to buy new ones soon. I would like to consume less plastic in the future, but it is still quite difficult at times. But I believe that with the changes in society it will also become easier," says the man. Rasmus loves going to the forest and hopes that people will be able to enjoy such magic in the future. "It's nice to know that there are forests in Estonia where you can take a nice walk. Besides beauty, it is good health for us. The greener the environment we are in, the healthier we are. You can't breathe in these city sneakers day after day." First goal: one thousand trees planted! That's why Rasmus is very happy to plant his trees through Alexela's community program. His trees have so far been planted in the Western District. "The reason is simple. It is there, because at the time of entry, the fewest trees were planted there," he says. Until September, Rasmus has, so to speak, planted 742 trees on his account, and their number is growing rapidly. "Initially, it would be nice to see the first thousand, but from there we'll try to get to 10,000 someday," he promises. Rasmus hopes that more and more people will join the Alexela community program. “Letting people know that a small donation can actually go a long way. The amount you invest in planting trees is small compared to how beneficial it is to nature. However, with sufficient information work, information also reaches people. We are used to consuming, but now it's really high time to give back a little," he says.