Estonian Electricity Price Coincided with the Finnish price for 97 Per Cent of the Hours in December

According to the Nordic Countries’ electricity market Nord Pool Spot (NPS) the day-ahead market price in Estonia and Finland coincided for 97 per cent of the hours in December, whereas only for 29 per cent of the hours between Estonia and Latvia.

The price in the NPS Estonian price area increased by 5.68 per cent achieving 37.42 euros per megawatt-hour in December, but the increase remained slightly lower than the total increase of the NPS system price. Namely, the system price increased by 6.03 per cent and was 31.67 euros. In Finland the average electricity price remained lower by 0.29 euros than the Estonian average price, whilst in Latvia and Lithuania the price was higher by 11.46 euros and the monthly average electricity price achieved 48.87 euros for megawatt-hour.

In Denmark there were negative electricity prices for 22 hours in response to positive wind conditions before the Christmas holidays, the lowest price was minus 30.85 euros per megawatt-hour.

Prices of carbon dioxide emission quota that influence the electricity production price increased in December, ranging between 6.56 and 7.07 euros per tonne.

In December, Estonian market participants bought 88 per cent of the electricity to cover the domestic consumption from the market, 90 per cent of the produced electricity was sold through the exchange.

Based on the Nasdaq OMX Commodities market’s financial transactions on the last tradingday, the electricity energy price on NPS Estonian price area would be 40.15 euros per megawatt-hour and the average price for the first quarter 42.52 euros per megawatt-hour in January 2015.

Market participants who bought risk hedging instruments, the limited PTRs, sold by Estonian and Latvian system operators earned over 1.3 million euros profit in December.

The full market report for December is available here (in Estonian).