The average price of electricity will be €110.19 per megawatt hour in Estonia on Saturday but only €17.80 in Finland. The reason behind the disparity is the EstLink 2 cable failure.
The price in Estonia will peak at to €299 between 5 a.m. and 7 a.m. on Saturday.
Today, the average price is €106.58 per megawatt hour, but it was between €50-80 the rest of the week.
A failure of the EstLink 2 electricity connection between Estonia and Finland was detected last night. The reason for the fault is not yet known.
Elering and Eesti Energia told ERR that due to the failure of EstLink 2, the price of electricity in Estonia will probably rise as the more expensive electricity generating stations, such as oil shale plants, will come online.
Editor: Marko Tooming, Helen Wright