This August, electricity in the Estonian price area of the Nord Pool exchange cost an average of €361 per megawatt-hour.

Last month, the average reached €233 per megawatt-hour, which at the time already broke the record set in December 2021.

Electricity was most expensive on August 17, when the daily average reached €682.05 per megawatt-hour, setting a new all-time high Estonian record.

That day, the hourly price also peaked at €4,000 per megawatt-hour, the power exchange's cap, which likewise smashed a record hourly price of just over €1,000 set last December.

The average price of electricity in Finland this month was €261 per megawatt-hour. To Estonia's south, the price of electricity in August averaged €468 in Latvia and €480 in Lithuania.

Last August, electricity in Estonia averaged €87 per megawatt-hour for the month; in August 2020, the average stood at €41.

Month closes out at €334

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.

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