Less than a week after peaking at a record €4,000 per megawatt-hour, the average price of electricity in Estonia will drop to €143.87 on Sunday, with hourly rates falling to as low as €0.44 in the early morning hours, according to Nord Pool's day-ahead prices* for August 21.
While the average price of electricity in Estonia's price region on the Nord Pool power exchange on Sunday will only be a few euros per megawatt-hour cheaper than it was on Saturday, peaking at €624.72 from 8-9 p.m., the hourly prices in the early morning hours will be especially cheap.
From 2-6 a.m., electricity will cost from €0.44-0.64 per megawatt-hour. From 6-7 a.m., it will cost €6.21, and from 7 a.m. through 6 p.m., hourly prices will range from €24.99-71.32 per megawatt-hour.
To Estonia's north and south, Finland will see an average electricity price of €28.43, Latvia €341.45 and Lithuania €346.96 per megawatt-hour on Sunday.
Record high €4,000 on Wednesday
Electricity prices in Nord Pool's Estonian price area reached record highs on Wednesday, with the average price for August 17 reaching €682.05 per megawatt-hour and the hourly price to peak at €4,000 per megawatt-hour from 5-6 p.m. (6-7 p.m. Estonian time), which is also the power exchange's cap.
Latvia and Lithuania will both likewise see their electricity prices peak at €4,000 at the same time on Wednesday, however both countries' average daily prices are exceeding 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