Electricity prices in Estonia to range from €23-704 per MWh on Wednesday
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.
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Aili Vahtla