Electricity exchange prices fell in Finland as well as in the Baltics in October
In October, electricity exchange prices increased in nearly all the pricing regions of the Nordic electricity exchange Nord Pool while prices fell in Finland and in the Baltics. In the comparison of pricing regions in the Baltics and Finland, the latter had the cheapest electricity prices whereas Estonia had the highest prices.
The biggest decrease in prices in October took place in the Finnish pricing region where the exchange prices fell by 5 percent to 46.33 euros per megawatt-hour.
In Latvia, electricity exchange prices fell by 3.1 percent to 47.33 euros per megawatt-hour in the previous month, and by 3.8 percent to 46.96 euros in Lithuania, respectively. Estonia experienced the smallest decrease in electricity exchange prices in the previous month as prices fell by 2.3 percent to 47.66 euros per megawatt-hour.
In the Estonian and Finnish pricing regions, the exchange prices differed in 131 hours in the previous month, while the same number in the Estonian and Latvian regions was 85.
The monthly increase in the system price of the Nordic electricity exchange Nord Pool was 12.7 percent in the previous month, amounting to 37.10 euros per megawatt-hour in October. The power flow between Estonia and Finland was mainly towards Estonia in October. Power flow was directed towards Estonia in 676 hours, i.e. 90.7 percent of the time, and 56.1 percent of the capacity provided to the market was consumed.
Power flow was directed from Estonia to Finland in 67 hours, i.e. nine percent of the time, and approximately one percent of the capacity provided to the entire market was consumed. No trading took place between the countries in a total of two hours.
Between Estonia and Latvia, power flow was directed towards Latvia in 509 hours, i.e. 68.3 percent of the time, and 33.6 percent of the capacity provided to the market was consumed. Power flow was directed towards Estonia in 176 hours, i.e. 23.6 percent of the time, and 15.6 of the capacity was consumed. There was no trading in 60 of the hours.
In October, Elering earned revenue of one million euros from the the cross-border transmission capacity distribution.
The price of carbon dioxide emission allowances, which impacts the price of electricity, was in a decline and between 22.53 and 26.3 euros per tonne in October.
Based on electricity futures prices on the month’s final day of trading on the NASDAQ OMX exchange in October, the average electricity exchange price in November could be 44.53 euros per megawatt-hour in Estonia, 46.95 euros per megawatt-hour in Finland and 50.25 euros per megawatt-hour in Latvia.