Electricity prices rise to €600 on Tuesday morning

On Tuesday morning, the electricity market price will rise to almost €600 for two hours. The average price for the day will be €164 per megawatt-hour compared to €256 today.
Similar to Monday, the price will be very high on Tuesday morning. During the night, electricity will fluctuate between €102 and €312, but starting at 7 a.m., the price will spike to €567. Between 8 and 9 a.m., the price of electricity will reach €600 per megawatt-hour.
During the day, the electricity price will be very low. At 9 a.m., the price will drop sharply to €93 and continue to decrease hour by hour. From 1 p.m. to 5 p.m., the price per unit will fall below €10 for several hours.
Starting at 5 p.m., the price will begin to rise again.
Between 7 and 9 p.m., the price of electricity will be close to €300 per megawatt-hour.
Electricity prices will remain relatively high in the final hours of the evening.
The average electricity price in Estonia on Tuesday is €164, while it will be higher in Latvia and Lithuania at €185. In Finland, however, the price is just €22 per megawatt-hour—more than seven times lower than in Estonia.
Energy experts say the high prices are due to undersea cable failures and calm weather conditions.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Valner Väino, Helen Wright