The highest unemployment rates in EU are in Greece Such results of Baltic States do not seem to be very impressive. Furthermore, it is noteworthy to emphasize that the populations of Estonia, Lithuania, and Latvia have visibly declined since , and many members of the younger generation have emigrated to the West and to Scandinavia.
Population of Lithuania in was estimated at 3. Undoubtedly, the highest salaries among the Baltic States are those in Estonia. The average monthly net salary after tax in Estonia is estimated at EUR Prices of apartments seem very high in Lithuania, higher than in Estonia and much higher than in Latvia. However, among the Baltic States, Estonia has the highest average price of one square meter of flat outside of the city center.
Although the Average Monthly Net Salary in Latvia is the lowest among Baltic States, its citizens theoretically need to work the shortest time to buy a 60 sqm flat outside the city center: it would cost This is obviously determined by relatively low prices of flats in Latvia.
In Estonia, such a flat would cost Prices of food and beverages in the Baltic States are relatively high when compared to average salaries, especially in Latvia. According to Eurostat, among EU members the prices of food and non-alcoholic beverages were the lowest in Poland and Romania, with price level index of In Lithuania it was 80 read why Lithuanians prefer to shop in Poland , whereas in Estonia and in Latvia At the same time, the price level index in the United Kingdom was 98, therefore there is a lower difference in prices of food and non-alcoholic beverages between Latvia and the United Kingdom than between Latvia and Poland, despite the fact, that salaries in Poland are definitely higher than in Latvia.
Thus it is quite difficult to save money for a flat in Latvia, even if the price of one sqm of a flat is very low compared to other states of EU, including the countries of Central and Eastern Europe.
Undoubtedly, the governments of Lithuania, Latvia, and Estonia are facing significant challenges if they are to regain the name of Baltic Tigers. Although the economic growth is stable, it is relatively sluggish and in need of impulses to increase its pace. First of all, it would be necessary to persuade the citizens to stay in their countries, which cannot be an easy task with prices of properties and costs of life that high. Currently, it is hard to call the Baltic States Baltic Tigers anymore.
He specializes in Hungarian and Central European politics. Skip to main content Skip to main menu Skip to search engine. Change font size to small Change font size to medium Change font size to large Print page. Renewable energies in the Baltic region is mostly overlooked by international investments, but the outstanding performance of the market in the past two years, is generating more interest.
The Baltic states — Lithuania, Latvia and Estonia — forms the region next to Scandinavia with a total population of 6 million people. For , GDP growth is expected to be at 3. Besides strong economic outlook, there is considerate focus on green economy and renewable electricity development in particular.
Besides the physical interconnections, all three Baltic energy markets are a part of Nord Pool power trading market since The Baltic region has the greatest potential in capacity and levelized cost of energy LCOE in wind energy. To meet their targets in the NECP, the three countries have the market potential of 3. It is expected that 1.
Lithuania aims for MW offshore wind tender in Q3 , with a two-sided contract for difference CfD revenue stabilization mechanism. Besides that, there are 13 GW of greenfield applications by 6 different developers in Estonian waters for offshore wind development. Sliding market premium mechanism was introduced in Lithuania and Estonia in , but there are also several projects being developed on the merchant base.
In , the first year PPAs were signed between onshore wind developers in Lithuania E-Energija and European Energy and an off-taker state owned utility Eesti Energia with a total onshore wind production capacity of MW.
According to Estonian auction pipeline, there will be an auction for GWh annual production or approx. To sum up, it is expected that 1. On top of this, the new government voted in December on the agreement that foresees up to 1 GW of installed self-consumption PV capacity until And while the Estonian NECP targets just over MW of PV capacity in , the market potential in the Baltics is significantly higher due to the increasing daytime electricity market price, as well as for the price reduction in PV installations in the upcoming years.
This is a joint project by Lithuanian, Latvian and Estonian transmission system operators TSO with an investment size of 1.
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