Electicity Prices News Today

Estonia has enough production capacity to cover peak hours, but closer cooperation with neighboring countries is needed to ensure supply and bring prices down, experts agreed on Tuesday.

With the introduction of universal service, users will be able to switch from their current electricity contracts, without incurring penalties. Electricity providers do not believe that this will result in major financial losses.

Estonia's average electricity price will fall to €202 per megawatt-hour on Tuesday, data from the Nord Pool exchange shows. This is double last year's prices.

The average price of electricity on Tuesday (March 8) will be €195.59 which is almost four times more expensive than on the same day in 2021, data from Nord Pool Estonia shows.

The Consumer Price Index (CPI) reached a 13-year high in September, predominantly driven by soaring electricity prices, data from state agency Statistics Estonia shows.