Estonia's electricity prices at record high
Electricity prices in Estonia are at a record high and last week the average was €300 per megawatt-hour. This time last year, it was more than three times lower.
Data from Nord Pool shows the average price last week (July 4-10/ week 28) was €299.83. The last time prices were this high was in December 2021 (week 49).
This means customers are currently paying winter prices for electricity in Estonia, despite it being the height of summer.
In week 28 last year, the average weekly price was €87.56.
This week the highest average price was on Monday (July 11) at €415 and the lowest will be tomorrow, when prices fall to €142.
The last time the average daily price of electricity was over €400 was in December 2021.
Prices in 2021 vs 2022
The graph below shows the average weekly price of electricity for June and July (weeks 23-28) in 2021 and 2022. Last year, the highest price was €89, almost three times lower than current prices.
Looking further back to January 2022, prices have been at least double 2021's since the start of the year.
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Editor: Helen Wright