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Electricity price in Estonia to average nearly €222 per MWh on Thursday

Snow-encrusted power lines.
Snow-encrusted power lines. Source: Siim Lõvi /ERR

The price of electricity in Estonia is set to more than double on Thursday.

The average price of electricity per megawatt-hour on the NordPool exchange will be €221.8 on Thursday, more than double Wednesday's price.

The cold snap in the Northern Baltic region is being cited as the main factor for the surge.

The cheapest hours will be in the small hours of the morning, and between 4 a.m. and 6 a.m. Thursday, the price will be below the 100 per megawatt-hour-mark.

Soon after that, the price will start rapidly to creep up, to €379.3 per megawatt-hour between 8 a.m. and 9 a.m., and the price will remain above €300 per megawatt-hour for the next few hours after that.

From 7 p.m., the NordPool exchange price will start to fall again, to €111 per megawatt-hour by day's end on Thursday.

Prices and their dynamics will be comparable in Finland, Latvia and Lithuania; the average price in Finland will be higher Thursday by €6.30 per megawatt-hour, chiefly due to a larger price differential between 7 a.m. and 8 a.m.

On Tuesday this week, the average price of electricity in the Estonian price area stood at €173.56 per megawatt-hour on Tuesday, falling to €98.97 today, Wednesday.


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Editor: Andrew Whyte, Huko Aaspõllu

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