Power exchange price rose 24 per cent in June

In June, power exchange prices rose in all bidding areas of the Nordic countries' Nord Pool exchange. The price was highest in Latvia and Lithuania. In Estonia, the price rose close to 24 per cent compared to May, reaching 47.79 euros per megawatt-hour.

The average exchange price of electricity in the first half-year in Estonia was 42 euros per megawatt-hour.

In Finland, the exchange price rose by 22 per cent compared to the previous month to 47.17 euros/MWh, while the price in Latvia rose 17 per cent to 50.91 euros/MWh. The entire Nord Pool system price rose close to 34 per cent last month to 44.80 euros. In the Estonian and Finnish bidding areas, a price difference was seen in 61 hours during the month, while a price difference was seen between Estonia and Latvia bidding areas in 246 hours.

In June, 82 per cent of the electricity capacity flows between Estonia and Finland were in the direction of Estonia; 11 per cent were in the direction of Finland. No trade took place between the two countries in the case of 49 hours. Of the capacity allocated to the market, 38 per cent was used in the Estonian direction and 2 per cent in the Finnish direction. In the Estonia direction, the capacity allocated for trading was used completely in the case of 59 hours.

Capacity flows between Estonia and Latvia flowed toward Latvia 93 per cent of the time and 5 per cent of the time – i.e., in 34 hours – toward Estonia. Trade did not take place between the two countries in the case of 14 hours. In the Latvian direction, 65 per cent of the capacity allocated to the market was used; in the Estonian direction the figure was 1 per cent. In the Latvian direction, the capacity allocated to the market was used completely 34 per cent of the time – in 247 hours.

Last month, Elering earned 747,000 euros in income from allocation of transmission capacity. In total, Elering's income from transmission capacity allocation instruments in the first half-year totalled 2.4 million euros.

The prices of carbon dioxide emission quotas– which impact the price of electricity – continue to rise and have reached the interval 14.21 to 16.10 euros per tonne. In the same month last year, the price range was 4.77 to 5.17 euros per tonne.

Based on futures trades on the Nasdaq OMX exchange, as of the last trading day of the month, the exchange price of electricity in July could shape up to be 51.1 euros/MWh in Estonia, 50.25 euros/MWh in Finland and 53.85 euros/MWh in Latvia.