July saw all-time record price of electricity in Estonia

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

The average price of electricity in Estonia rose to a record €233.21 per Megawatt-hour in July.

The figure, quoted as a average for the month on the NordPool exchange, exceeds the previous all-time record of €202.65 per MWh, set last December, by over €30.

The figure does not mean that average electricity bills came to €233.21 for the month, simply that the average price per MWh was at that level for the whole month – prices are quoted on an hourly basis on the NordPool site, often with wild fluctuations within a single day.

At the start of July, head of state electricity generators Eesti Energia, Hando Sutter, said that electricity prices might become "quite high" in summer due to the fact that some Narva power stations were off-line for maintenance ahead of the main heating season (October to March).

For comparison's sake, in the region, while Finland's average price, at €184.13 per MWh on the NordPool exchange, was lower than Estonia's and did not exceed the figure for last December, both Latvia (€304.96 per MWh) and Lithuania (€305.36) experienced higher, and also record, price levels.

By comparison in previous years, prices of €83.78 per MWh in July last year, and of €30.1 per MWh in 2020, were quoted.


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Editor: Andrew Whyte

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