Power exchange price in Estonia lowest in Finland and Baltic region last month

In January, power exchange prices rose in all bidding areas of the Nordic countries’ Nord Pool exchange. The price was highest in Latvia and Lithuania. The exchange price in the Estonian bidding area was 55.76 euros per megawatt-hour, which in January was the lowest compared to neighbouring countries.

Compared to December, the exchange price in the Estonian bidding area rose by 5.11 per cent. In Finland, the price reached 55.78 euros per megawatt-hour, and the respective prices in Latvia and Lithuania were 56.62 and 56.50 euros per megawatt-hour. The biggest price rise was in Finland, where the price of power rose by 6.61 per cent compared to December. The entire Nord Pool system price rose close to 4.31 per cent last month to 53.78 euros per megawatt-hour.

The Estonian and Finnish power exchange prices varied in January in the case of 13 hours, and there was a difference between Estonia and Latvia in 77 hours.

Electricity streams between Finland and Estonia flowed in the direction of Estonia 50 per cent of the time in January, and one-fifth of the capacity allocated to the market was used in this direction. One hundred per cent of capacity was used up in one hour. During 41 per cent of hours, electricity moved from Estonia to Finland and 9 per cent of the time – in 66 hours – there was no trading between the two countries. Close to 14 per cent of the capacity allocated to the market was used in the Finnish direction, and the entire capacity was used up in eight hours.

Between Estonia and Latvia on the other hand, electricity flowed toward Latvia 73 per cent of the time and 21 per cent of the time toward Estonia. There were no commercial transactions in the case of 6 per cent of the hours – in 43 hours. 35% of the market’s transmission capacity was used in the direction of Latvia. It was used fully for 78 hours. In the direction of Estonia, 5 per cent of the capacity allocated to the market was used for commerce.

Elering earned 586,375 euros in auction revenue from trading cross-border transmission capacities.

The prices of carbon dioxide emission allowances – which impact the price of electricity – ranged from 21.86 to 25.01 euros per tonne in January. In the same month last year, the price range was 7.62-9.42 euros per tonne.

All data are provided according to Central European time (CET).