Electricity price nearly €500 per MWh on Tuesday
Electricity is expected to peak in price at nearly €500 per megawatt-hour on Tuesday. It will exceed Monday's price, which was already the highest seen since late November.
The average electricity price in the Nord Pool Estonia price area for the day will be €235 per megawatt-hour.
While last week's abundant wind energy helped keep prices under control despite the bitter cold, those winds have since died down. Supply also continues to be constrained by outages at power plants. Last Thursday, Estonia's largest power plant, Auvere, went offline due to a technical fault. Capacity is also unavailable from Unit 8 at the Eesti power station, due to a malfunction.
Electricity cost around €100 per megawatt-hour in the early hours of Tuesday morning, but from 7 a.m. it started to rise steeply. It peaked at 9.15 a.m. at €483 per megawatt-hour.
Prices will remain high during daytime hours, roughly in the €250 to €300 per megawatt-hour range, though at times the price will exceed €450 again.
Prices will drop a bit in the final hours of Tuesday, but will still remain in the €100-€300 range.
Prices had already spiked on Monday and for most of the day averaged around €300 per megawatt-hour. The full-day average spot price stood at €223, the highest level seen since November 25 last year.
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Editor: Andrew Whyte
