Estonia’s electricity price lower than in neighbouring countries in January

The electricity price in the Estonian price area of the Nord Pool Nordic electricity exchange fell by two per cent compared to December’s price – to 33.27 euros per megawatt-hour –, and was two cents cheaper than the price in the Finnish price area.

In January the electricity price in Latvia rose by almost three per cent compared to the final month of last year – to 35.14 euros per megawatt-hour –, and in Lithuania by six per cent – to 36.88 euros per megawatt-hour. The exchange system price fell by three per cent – to 30.81 euros per megawatt-hour.

The price difference between the Estonian and Finnish price areas was in place for only 12 hours for the entire month, while for the remaining 732 hours, the price was equivalent. A comparison of the electricity prices in Estonia and Latvia shows that the Latvian price was higher than the Estonian price for a third of the hours.

Power flows on the Estonia-Finland connections moved in the direction of Estonia for 64 per cent of the hours, and the connections’ full capacity available to the market was used for twelve hours. On the Estonia-Latvia connection, power flows moved from Estonia to Latvia for 86 per cent of the time, and the full capacity was used for almost a third of the time.

Revenues from cross-border capacity distribution in January totalled over half a million euros, or 527 151 euros.

Carbon dioxide emission quota prices, which influence the price of electricity, remained in a similar range to December, or 4.69–6.11 euros per ton. In December, the price was 4.3–6.54 euros per ton.

On the basis of transactions on the Nasdaq OMX exchange conducted on the last trading day of the month, the average electricity price in Estonia will be 35.9 euros in February and 34 euros per megawatt-hour in March.