Rise in the exchange price of electricity slows in August

The rise in the exchange prices of electricity in the various bidding areas of the Nordic countries’ Nord Pool power exchange slowed in August. Comparing the Baltics and Finland, the highest price was seen in the Latvian bidding area while Finland had the lowest price notwithstanding a slight price rise.

In the Finnish bidding area, the exchange price of electricity grew by 6.22 per cent compared to July, reaching 48.77 euros per megawatt-hour. In Latvia, the exchange price of electricity grew by 1.11 per cent compared to July, reaching 49.49 euros per megawatt-hour. In the Lithuanian bidding area, the exchange price of electricity rose by 0.88 per cent to 49.37 euros per megawatt-hour; while Estonia saw the least rise, by 0.32 per cent to 49.08 euros per megawatt-hour. In the Estonian and Finnish pricing regions, the exchange price differed in 22 hours in June, while the same number in the Estonian and Latvian regions was 30 out of all the hours in the month.

The monthly rise in the system price for all of Nord Pool was 2.72 per cent and the system price in August turned out to be 36.11 euros per megawatt-hour.

Energy flows between Estonia and Finland were seen as oriented toward Estonia most of the time. Energy flowed toward Estonia in 685 hours – 92.1 per cent of the time – and 41.4 per cent of the energy allocated to the market was used completely. Energy flowed toward Finland in 42 hours – 5.6 per cent of the time – and 0.6 per cent of the energy allocated to the market was used completely. No trade between the two countries took place during 17 of the hours.

In regard to Estonia and Latvia, energy flowed toward Latvia in 463 hours – 62.2 per cent of the time – and 26.4 per cent of the energy allocated to the market was used completely. Energy flowed toward Estonia in 234 hours – 31.5 per cent of the time – and 7.6 per cent of the energy allocated to the market was used completely. No trade between the two countries took place during 47 of the hours.

In August, Elering’s profit from sharing cross-border transmission capacity was 595,620 euros.

The price of carbon dioxide emission allowances, which impact the price of electricity, was between 25.10 and 29.45 euros per tonne in August.

Based on transactions concluded on the Nasdaq OMX futures market during the last day of trading in the previous month, the electricity exchange price in the Estonian pricing region in September could be 43.37 euros, with the respective numbers being 50.20 for Finland and 49.70 euros in Latvia per megawatt-hour.