Electricity prices rising due to easing of emergency situation

Power lines being repaired.
Power lines being repaired. Source: Urmas Volmer/Elektrilevi

Due to the easing of the emergency situation and the maintenance of production assets, a slight increase in electricity prices could be seen in Estonia in May.

Compared with April, the average price of electricity in Estonia rose 5.6 percent to €25.02 per MWh in May. Compared with May of last year, however, the decline was 41.51 percent, it appears from state-owned energy group Eesti Energia's energy market overview.

The balance of Nordic hydro stocks fell by 9.33 TWh compared with April and remains at a very good level. The price of carbon emission credits fell 0.15 percent on month to €19.97 per ton in May

Due to the easing of movement restrictions, the oil market began to recover in May. The price of crude oil rose by 21.71 percent month-on-month to $32.41 per barrel

In the warmer period, however, gas demand decreases, and therefore gas prices also fell in May. On the Gaspool market, the average price fell 26.69 percent on month to €5 per MWh Year over year, a drop of 63.32 percent was registered.


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Editor: Katriin Eikin Sein

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