January electricity prices highest Estonia has seen in years
Amid a deep freeze, Estonia saw record electricity prices in January, reaching an average of over €154 per megawatt-hour (MWh) driven by outages, high demand and calm winds.
According to Nord Pool data, the electricity market price in Estonia this month averaged €154.38 per MWh, the highest monthly average seen since 2024.
Cold weather and high demand pushed prices higher, but outages at major power plants also played a role.
Since January 7, Auvere Power Plant has been offline for repairs. Estonian state-owned energy group Eesti Energia expects repairs to be finished by February 10. A boiler in block 8 of its Eesti Power Plant, with 105 megawatts of capacity, is likewise scheduled to return to the market on February 2.
Overall, Eesti Energia currently has up to 365 megawatts of production offline. Low wind output added further pressure on the market in January.
Regional comparisons show similar trends for this month, as electricity prices averaged €154.07 per MWh in Latvia, €153.07 per MWh in Lithuania and €115.98 per MWh in Finland.
Last January, the average price of electricity in Estonia was €92.02 per MWh.
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Editor: Märten Hallismaa, Aili Vahtla
