The price of electricity in Estonia reached a new record in June – the price of electricity reached 233.21 EUR/MWh, as reported by Estonian national media ERR.
This figure, which is quoted on NordPool exchange as the month’s average, exceeds the previous record reached in December 2021 – 202.65 EUR/MWh – by more than EUR 30.
This figure does not mean the average monthly electricity bill has reached EUR 233.21, only that the average price per MWh was at this level the entire month. Prices on NordPool website are updated every hour. Often they fluctuate considerably throughout the course of a single day.
At the beginning of July the head of Estonian electricity producer Eesti Energia Hando Sutter said the price of electricity may become «rather high» in summer, as some of Narva’s power stations are shut down for repairs before the main heating season (October-March).
In Finland, for example, the average electricity price on NordPool exchange was 184.13 EUR/MWh, which is below Estonia’s average and does not exceed last December’s prices. Compared to December 2021, the price of electricity in Latvia was 304.60 EUR/MWh. In Lithuania it was 305.36 EUR/MWh, which also indicates record-high price growth.
In July 2021 the price was 83.78 EUR/MWh and in July 2020 it was 30.1 EUR/MWh.
Electricity price in Estonia reaches and all-time record
