In June, the electricity exchange price fluctuated between 0.5 to 200 euros per megawatt-hour

In the Estonian pricing region of Nord Pool, the Nordic power market, the average electricity exchange price for the half-year was 45.18 euros per megawatt-hour. In June, the exchange price rose 2.69 percent to 43.46 euros per megawatt-hour as compared to May.

The minimum exchange price in Estonia in June was 0.51 euros and the maximum price was 200.03 euros per megawatt-hour.

According to Taavi Veskimägi, Chairman of the Management Board of Elering, the spring/summer regional electricity price and its dynamics show that the electricity market is shaping up as was already expected several years ago. “There are basically very many hours with a low cost, and also hours during which the price is high. That will be the norm in the future. The electricity market will start rewarding flexibility in production and consumption, which provides consumption management and storage technologies as well as fast-launch ‘peak stations’ an opportunity in addition to renewable energy solutions. Estonia has sufficient interconnections with other countries, and hopefully Estonian companies are able to benefit from the changing regional power market via technological innovation and changing business models. Elering wishes to support such innovation,” noted Veskimägi.

In Latvia and Lithuania, the electricity exchange price rose to 44.65 euros per megawatt-hour in June. In other Nord Pool pricing regions, the electricity exchange prices fell significantly. In the Finnish pricing region, the price of electricity was 30.71 euros per megawatt-hour, falling more than 22.92 percent in a month, and the system price of Nord Pool was 27.96 euros per megawatt-hour, falling 26.56 percent in a month. The average electricity exchange price in Finland for the half-year was 42.42 euros per megawatt-hour, and 46.07 euros per megawatt-hour in Latvia.

In the Estonian and Finnish pricing regions, the exchange price differed in 353 hours in June, while the same number in the Estonian and Latvian regions was 47 out of all the hours in the month. There was no price difference in the Latvian and Lithuanian pricing regions in the previous month.

The power flow between Estonia and Finland was mainly directed towards Estonia in June; out of all the hours in the month, power flow was directed from Estonia to Finland in 17 hours. In the Estonian direction, 82 percent of the capacity provided to the market was consumed, and in half the hours, the capacity was consumed in the full extent.

The power flow between Estonia and Latvia was towards Latvia in 91 percent of the time and towards Estonia in eight percent of the time; no trading was conducted in a period of five hours. In the Latvian direction, 52 percent of the capacity provided to the market was consumed, and in 47 hours, the capacity was consumed in the full extent.

In June, Elering gained revenue in the amount of 4.5 million euros from the cross-border distribution of generation capacity.

The price of carbon dioxide emission trading, which affects the price of electricity, was between 23.74 to 27.39 euros per ton in the previous month.

Based on transactions concluded during the last day of trading in the previous month, the electricity exchange price in the Estonian pricing region in July could be 32.33 euros on the Nasdaq OMX futures market, with the respective numbers being 32.35 for Finland and 38.35 euros in Latvia per megawatt-hour.