March’s electricity exchange price slightly lower than Finland’s

According to the Nord Pool Nordic electricity exchange, the electricity price in the Estonian price area – 45.32 euros per megawatt-hour – was 28 cents lower than that in the Finnish price area.

The exchange prices rose in March in all Nord Pool price areas. The largest price increases were seen in Sweden and Norway. In Estonia, the electricity price increased by 4.5 per cent in comparison to February to 45.32 euros, and in Finland by 5.17 per cent to 45.60 euros per megawatt-hour. There was a price difference between the Estonian and Finnish price areas for eight hours and between the Estonian and Latvian price areas for 125 hours out of the month’s total, and for one hour between Latvia and Lithuania. In Latvia and Lithuania, the electricity exchange price increased by six per cent from the previous month to 46 euros per megawatt-hour.

Electricity flows in March went 45 per cent of the time in the direction of Finland and almost 41 per cent to Estonia. There was no cross-border trade for 99 hours in the month. During the month, the capacity provided to the market was used in the direction of Finland for almost 20 per cent of the time, and in the direction of Estonia for nine percent, with the full capacity available to the market being used for only five hours in the direction of Finland.

Capacity flows between Estonia and Latvia in March were in the direction of Latvia for nearly 79 per cent of the time, and 15 per cent in the direction of Estonia. There was no trade between the two countries for a total of 39 hours. The capacity provided to the market was used for 46 per cent of the time in the direction of Latvia, and for only six per cent in the direction of Estonia. The full capacity available to the market was used for 142 hours in the direction of Latvia.

Elering earned almost 406 000 euros in revenue from cross-border transmission capacity distribution in the previous month.

Carbon dioxide emission quota prices, which affect the production cost of electricity, showed a gradually increasing trend. In March, the price was in the region of 9.97-13.65 euros per ton. In February, this price was 8.78-10.13 euros per ton.

Based on electricity futures prices on the month’s final day of trading on the NASDAQ OMX exchange, the average exchange electricity price in Estonia may total 40.46 euros per megawatt-hour in April. In May, the price is expected to fall to 36.38 euros per megawatt-hour.