July electricity exchange price equal in Estonia and Finland

According to data provided by the Nord Pool Nordic electricity exchange, the day-ahead electricity market price was the same in Estonia and Finland for all hours and the average price totalled 30.97 euros per megawatt-hour.

In Estonia, the electricity price fell by 14 per cent compared to June. In Latvia, the electricity price was 38.32 euros per megawatt-hour last month, or 7.35 per cent higher than in Estonia. In Lithuania, the price was around one euro higher than in Latvia – 39.23 euros per megawatt-hour. The entire Nord Pool system price totalled 25.32 euros in July.

Electricity flowed between Estonia and Latvia for 99 per cent of the time in July from Estonia to Latvia, and 80 per cent of the transmission capacity provided for the market was used in the monthly summary. The full transmission capacity was in use for 44 per cent of the time.

Carbon dioxide emission quota prices, which affect the production cost of electricity, were in the region of 4.41-4.96 euros per ton in July, somewhat lower than in June.

Last month, Elering earned 1.2 million euros in revenue from cross-border transmission capacity distribution.

Based on electricity futures prices on the NASDAQ OMX exchange, the average electricity price in Estonia may total 35.18 euros in August. Next year’s price will total 31.55 euros per megawatt-hour based on futures transactions conducted on the last trading day of July.