Experts: Average electricity price to stay above €100 in winter
Experts forecast the average price of electricity will hover around €100 per megawatt-hour this winter before fees and taxes are added.
"Looking at future transaction prices, autumn prices will be in the region of €90, with winter prices closer to €100," Marilin Tilkson, head of Energy Market Department at the Competition Authority, told ERR.
She stressed this is only a forecast.
Armen Kasparov, head of Eesti Energia's energy trading & portfolio management unit, said no producer is willing to sell electricity in the wholesale market for less than €90 per megawatt hour in the fourth quarter.
"This is the average price on the exchange without VAT and without any other additional free charges," he said.
"If we are talking about the first quarter of 2025, prices will already be in the triple digits – €110 per megawatt-hour and above. In the summer, of course, the price will fall, because everyone has a positive expectation that solar will bring the average price down, and probably will," Kasparov added.
Last year's trends may also be observed. The price of electricity is low when the sun is shining, but in the morning and evening hours, when people are at home and consume more electricity, the prices are still quite high.
"In other words, from the point of view of the consumer who buys electricity on the exchange and who is actually away from home during the day and consumes electricity in the morning or evening hours, their average price will be higher than the average price on the exchange," Kasparov explained.
Consumers must still pay the network fee, renewable energy fee, VAT and excise duty. This totals around a third of the final bill.
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Editor: Mait Ots, Helen Wright