Decrease in Electricity Exchange Price in May

The electricity exchange price in Estonia fell by 3% to 38.66 euros per MWh in May.

In the Finnish bidding area, the price fell by nearly 4% to 38.63 euros. Conversely, prices were on the rise in Latvia and Lithuania, increasing by 9% compared to April to 43.69 euros per MWh. Last month’s price differences amounted to three hours between Estonia and the Finnish bidding area and 271 hours between Estonia and Latvia.

The Nord Pool System price decreased by 14% to 33.45 euros per MWh.

The capacity flows between Estonia and Finland were directed to Estonia 86% of the time and to Finland 7% of the time. There was no trading during 8% of the time, i.e. 56 hours. 37% of the market's transmission capacity was used in the direction of Estonia and approximately 1% in the direction of Finland. The transmission capacity was used fully in the direction of Estonia for three hours.

The capacity flows between Estonia and Latvia were directed to Latvia 98% of the time and to Estonia 1% of the time (i.e. nine hours). There was no trading for six hours in May. 67% of the market's transmission capacity was used in the direction of Latvia. It was used fully for 273 hours.

In May, Elering's profit from sharing cross-border transmission capacity was 359,000 euros.

The prices of carbon dioxide emissions quotas that influence the price of electricity are on the rise and last month's transactions were in the range of 12.92-16.28 euros per tonne compared to 4.34-5.19 euros last year.

The transactions made on the Nasdaq OMX futures market on the last trading day in May indicate that the electricity exchange price may turn out to 46.95 euros per MWh in June.