Estonia's electricity price to peak at record €4,000 per MWh on Wednesday
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.
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Aili Vahtla