Electricity prices in Estonia to range from €23-704 per MWh on Wednesday

Power transmission line.
Power transmission line. Source: Siim Lõvi/ERR

The average price of electricity in Estonia will drop somewhat to €333.55 per megawatt-hour on Wednesday, but hourly rates will range widely, from €22.85 to more than €700, according to Nord Pool's day-ahead prices* for August 31.

Electricity will be cheapest in the earliest morning hours, remaining below €25 per megawatt-hour from midnight through 5 a.m.

The hourly price will spike to €620 from 7-8 a.m. before peaking out at €703.74 from 8-9 a.m.

Hourly prices will remain above €500 per megawatt-hour through 2 p.m., and fall below €300 starting at 8 p.m., plunging suddenly to €24.94 again from 11 p.m. through midnight.

Like Estonia, the price of electricity in Finland will average €333.55 per megawatt-hour on Wednesday. To the south, however, Latvia and Lithuania will see higher daily average prices at €564.69 and €637.07, respectively.

Record high prices two weeks ago

Electricity prices in Nord Pool's Estonian price area reached record highs exactly two weeks prior, with the average price for August 17 reaching €682.05 per megawatt-hour and the hourly price peaking €4,000 per megawatt-hour, which is also the power exchange's cap.

*All times are noted in Central European Summer Time (CEST), one hour behind Estonian time, in accordance with Nord Pool's own data.


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Editor: Aili Vahtla

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