New record electricity price high to hit Estonia on Sunday

Power lines.
Power lines. Source: Siim Lõvi /ERR

Electricity prices in Estonia are set to reach a record level Sunday, at €188.9 per Megawatt-Hour on the Nord Pool trading market.

This represents a 7.4 percent rise on Saturday's price.

Electricity prices had already reached record highs over October and November, prompting two government support packages for both consumers and suppliers – the latter to compensate for a reduction of the network fee by 50 percent – and discussions over a potential reduction in VAT on energy.

October's average price was €105.61 per MWh, nearly three times higher than the price in October 2020, which was €37.62 per MWh.

The previous record high, set on October 7, was €178.40 per MWh, and prior to that, July 20 2014's €124.77 per MWh.

Natural gas and vehicle fuel prices have also recently reached record levels.


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Editor: Andrew Whyte

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