Electricity exchange price difference with Latvia and Lithuania to decrease in July

In July, the difference of the day-ahead electricity exchange price between the Estonian price area and the Latvian and Lithuanian price areas fell to 1.94 euros, compared to the 7.71 euros this June.

The main reason for the price difference is a number of failures in the Lithuanian-Swedish connection.

The average electricity exchange price in Estonia was 34.33 euros per megawatt-hour last month and the price increased by 12 per cent in comparison with June. In Latvia and Lithuania, the price decreased by five per cent, reaching 36.27 euros per megawatt-hour.

In Finland, the price was 34.17 euros per megawatt-hour, while the Nord Pool electricity exchange system price was 26.37 euros per megawatt-hour. Prices increased by 12 per cent and by seven per cent, respectively.

Between Estonia and Finland, electricity moved in the direction of Estonia for 75 per cent of the hours last month and from Estonia to Finland for 16 per cent of the hours. There were no day-ahead transactions between the two countries on the remaining nine per cent of the hours.

Between Estonia and Latvia, electricity moved from Estonia to Latvia 99 per cent of the time and full capacity was used on 73 per cent of the hours.

Based on transactions on the last day of trading on the Nasdaq OMX market in July, the electricity exchange price in August may reach approximately 34 euros per megawatt-hour and 37 euros per megawatt-hour in September.

The carbon price, which influences the electricity price, increased last month and transactions took place in the range of 5.04-5.47 euros per ton.