Electricity prices to reach €777 per MWh on Tuesday

Power lines.
Power lines. Source: Siim Lõvi /ERR

Due to the failure of the third reactor at Finland's Olkiluoto nuclear power plant, the electricity price in Estonia on Tuesday between 4 and 5 p.m. is set to rise to €777.18 per megawatt-hour (MWh).

Tuesday's exchange price in the Estonian, Finnish, Latvian and Lithuanian price zones will remain stable, with an average of €287.87 per MWh for the day.

During the night, the electricity price will be just under €100 per megawatt-hour before rising to €550 per megawatt-hour from 7 a.m. on Tuesday. After that, the price will hover at around €400 per MWh, peaking at €777.18 per MWh between 4 p.m. and 5 p.m.

In the following hour, the price will drop to €345 per MWh before falling further to below €200 per MWh later on Tuesday evening.

On Monday, it was announced that the third reactor of Finland's Olkiluoto nuclear power plant had automatically shut down on Sunday after a technical fault was detected. Electricity generation at the reactor will now resume on Tuesday, with full capacity expected to be restored going into Thursday.

Teollisuuden Voima (TVO), the company which manages the plant, said that the fault had been caused by a temperature gauge failure in the generator's cooling system.

Tuesday's electricity price in Finland and the Baltics will also be affected by the cold weather and poor wind conditions, which are having an adverse impact on wind power production.


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Editor: Michael Cole

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