The prices quoted on the Nord Pool exchange, Estonian area, show negative prices from 10 a.m. to 5 p.m. (ranging from -€4.31 to -€7.01).

From 6 a.m. to 7 a.m. the price is negligible at -€0.01 per Mwh, then at 9 a.m. to 10 a.m. prices are exactly zero. Low prices return at 5 p.m. to 6 p.m. (+€0.01 per MWh).

However the average for the day will be over €50 per Mwh, and peak hourly price is €131.88 (8 p.m. to 9 p.m.).

The same phenomenon was seen Saturday, when negative prices were quoted from 10 a.m. to 6 p.m., reaching -€10 per Mwh for four of those hours.

Latvia and Lithuania too will see negative prices equal to Estonia's, though in Finland, the overall daily averages on the Nordpool are negative, -€2.71 per Mwh on Saturday and -€1.04 on Sunday.

Negative electricity prices are a phenomenon that occurs when the supply of electricity exceeds the demand and the market price drops below zero. This means that producers have to pay consumers to take their electricity, instead of the other way around.

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