Average electricity price rose sharply last week
Last week, the average electricity market price in Estonia was €131 – three times higher than the week before (September 23-29).
The average electricity price this week in the Baltic states was €131.19 per megawatt-hour, compared to approximately €45 a week earlier.
Electricity prices saw a sharp increase on Wednesday, with the daily average reaching €241 per megawatt-hour, rising to €500 during peak hours.
The last time electricity prices were this high in Estonia was at the beginning of January.
In Finland, the average price this week was €109, up from €25 per megawatt-hour the previous week. Latvia and Lithuania experience similar hikes.
In both Estonia and Finland, the spike was attributed to cloudy, cool, and windless weather. Additionally, two nuclear power plants in Finland are currently undergoing maintenance or repairs.
On Sunday (October 6), the average electricity price in the Nord Pool Estonia price area is €77.36 per megawatt-hour — the same as in the other Baltic countries.
However, in Finland, the price has dropped to €34.4 per megawatt-hour.
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Editor: Valner Väino, Helen Wright
