The cost of electricity will also be high in neighboring countries, including Finland, which generally has substantially lower energy prices than does Estonia.

Following last Wednesday's restoration of the submarine Estlink 2 power cable, which links Estonia to Finland and which had been out since January, electricity prices in Estonia started to fall several days in a row, reaching €4.70 per MWh on Monday.

The price began to rise on Tuesday, when the average daily rate in Estonia was €56.30, increasing to €75.60 per MWh by Wednesday.

On Thursday, the average price will climb to €134 per Mwh.

The most expensive period for electricity on Thursday will come in the evening, from €250 per Mwh 6 p.m. to 8 p.m., then rising to €393.30 per Mwh for one hour from 8 p.m.

Latvia and Lithuania are set to see the same electricity prices as Estonia for Thursday.

Unusually high electricity prices will also affect Finland on Thursday, with an average daily price of €115.80 per megawatt-hour. In Finland, prices will similarly spike to €393 per megawatt-hour for one hour in the evening.

Electricity prices in Finland have been significantly lower than in Estonia through the summer just ended.

Tuomas Rauhala, head of the Finland's grid operator Fingrid, told public broadcaster Yle that the rise in electricity prices there is the result of of maintenance and repair work on power plants, including the nuclear plant at Olkiluoto, and on connections to Sweden, both of which have increased Finland's reliance on more expensive electricity from neighboring countries.

Increased consumption has also been a factor, he said.

The Olkiluoto reactor is expected to remain offline for three weeks, following a malfunction.

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