While forecasts are calling for even colder temperatures than Tuesday, the average price of electricity in Estonia on Wednesday is slated to drop significantly, according to Nord Pool's day-ahead prices for January 3.
The average price of electricity in the Estonian price area stood at €173.56 per megawatt-hour on Tuesday, and according to the power exchange's day-ahead prices will fall to €98.97 on Wednesday.
Hourly prices won't peak nearly as high as Tuesday's €483.08 either; electricity will be most expensive on Wednesday between 6-7 p.m. local time, reaching €147.62.
As on Tuesday, the average price of electricity in Finland will match Estonia's on Wednesday at €98.97, however Latvia and Lithuania's respective average prices will still remain lower at €94.04.
The current cold snap in Estonia is expected to last through at least Friday, and forecasts indicate temperatures may drop to as low as -30 degrees Celsius.
Editor: Aili Vahtla