The average price of electricity in Estonia is to increase to €682.05 per megawatt-hour on Wednesday, peaking at a record €4,000 per megawatt-hour Wednesday evening, according to Nord Pool's day-ahead prices* for August 17.
The daily average price of electricity in Estonia reached €463 per megawatt-hour on Monday and climbed even higher to €479 per megawatt-hour on Tuesday.
On Wednesday, however, the hourly price of electricity is slated to spike to €4,000 from 5-6 p.m., reaching the power exchange's cap.
The hourly price will also hover around €750 per megawatt-hour from 7-9 a.m., 3-5 p.m., and 6-9 p.m.
Electricity prices in Estonia will be cheapest from 9 a.m. through 3 p.m., bottoming out at €305.72 from 2-3 p.m.
Latvia and Lithuania will both likewise see their electricity prices peak at €4,000 from 5-6 p.m. on Wednesday, with both countries' average daily prices to exceed Estonia's at €823.98.
Estonia's previous record high average electricity price was set last Monday, when the daily average price reached €501 per megawatt-hour.
The previous hourly electricity price record of €1,000.07 per megawatt-hour was set on December 7, 2021.
*All times are noted in Central European Summer Time (CEST), one hour behind Estonian time, in accordance with Nord Pool's own data.
Editor: Aili Vahtla