Energy, Estonia, Financial Services, Legislation

"When we look at the 15% decline in the price of Elering's network service fee and now the renewable energy fee falling by 14%, it is important to notice that contrary to the general notion that electricity services are constantly getting more expensive, electricity prices move both up and down," Elering CEO Taavi Veskimagi said in a press release.

The board of Elering approved next year's renewable energy fee, which will be 0.89 cents per kWh. In 2017 the fee is 1.04 cents per kWh. The price of Elering's network fee was lowered also on July 1, by 7.6%. The decline in the renewable energy fee will be seen on the energy bills of all consumers because electricity consumers are the ones who finance renewable energy support through paying the renewable energy fee.

According to forecasts, 74.6 million euros is to be paid out in renewable energy support and 4.5 million in high-efficiency cogeneration support next year.

The share of renewable energy in total energy production is estimated to total 17%, compared with the state's goal of 16.1%.