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"The revenue fall has halted, and looking at the price forecast today it's reasonable to assume that an analogous trend could continue in the future," Avila said at the presentation of Eesti Energia's third-quarter results.

Sales revenues in August and September were on a par or even surpassed revenues for this year's winter months, he observed, adding that Eesti Energia's generating capacities have been used to full capacity in recent months.

The EBITDA downtrend has likewise halted and Eesti Energia hopes to improve margins as well in coming quarters, Avila said.

The company expects hedging transactions concluded for both electricity and oil to give additional support to sales results in the following quarters, he added.

Eesti Energia CEO Hando Sutter likewise noted an improvement in electricity prices and their outlook for producers. "In the first quarter electricity prices for consumers could top 45 euros per megawatt-hour, which is significantly higher than last winter. Price-sensitive consumers ought to think about it," he said.

"We're taking a positive view on the fourth quarter and next year," Sutter said. In his words, the positive outlook is supported by improved oil and crude prices, as well as a change for the better in the heavy fuel oil outlook. The outlook for the price of carbon quotas, which also has slightly influenced the company's production costs, stands a little under six euros.