"As shown by the trends of the last few days, which reflect the trends of the last few years, electricity in Sweden is the cheapest and, in my opinion, this will continue for another four or five years. Later the situation will change due to the political decision on the closure of nuclear power plants, which has already been made in Sweden. Once the nuclear power plants shut down, the situation will change somewhat. Even so, Sweden's experts believe that changes won't be radical. However, there will be some short-term spikes in prices," Daivis Virbickas told the reporters on Tuesday.
On the other hand, electricity prices in Poland, which would be connected to Lithuania via the power interconnection LitPol Link, were not stable, he said.
"They have many coal-fired power plants, which respond to pollution requirements. Will the situation in Poland change radically in the next four or five years? I don't think so and coal will remain the dominant fuel... Being as small as we are, we will obviously follow the price trends in Sweden and Poland," Litgrid CEO said.
He believes there will be periods next year when electricity in Lithuania will be cheaper than in Poland and vice versa.
Construction on LitPol Link and NordBalt has already been completed and both power interconnections are being tested now. Testing of LitPol Link is scheduled to be finalized by the end of December while the tests of NordBalt are scheduled to run until the end of March 2016.
