Analytics, Energy, Energy Market, Estonia, EU – Baltic States
International Internet Magazine. Baltic States news & analytics
Friday, 26.04.2024, 08:48
Estonia's electricity price 5% higher than in Finland in November
The average free market price of electricity in Nord Pool
bidding area Estonia grew 13.5 % to 52.62 euros in November, compared to the
previous month. The average price in Latvia was 55.24 euros and in Lithuania
55.42 euros. In the Finnish bidding area, the free market price grew 8% to
50.08 euros per megawatt-hour. The Nord Pool system price grew 12.38% in
monthly comparison to 48.37 euros, the transmission system operator Elering said.
In the Estonian and Latvian bidding areas a price difference
was registered in 166 hours, in the Estonia and Finnish areas in 173 hours, and
in the Latvian and Lithuanian areas in 33 hours.
Electricity power streams between Estonia and Latvia were
directed to Latvia for 96% of the time, 65% of the capacity allocated to the
market was used. The capacity was used completely in 15% of the time,
or in 106 hours.
The capacity flow between Estonia and Finland was toward
Estonia for nearly three quarters of the time and toward Finland
for 16% of the time. In the direction from Finland to Estonia, 36% of
the capacity allocated to the market was used, in the opposite direction the
ratio was 7%. In the Estonian direction, the capacity was used
completely during 18 hours, and in the direction towards Finland during 13
hours.
If previously, the free market prices for Estonia and
Finland have been very similar, then in November, a third of the connection
between Estonia and Finland was not operational due to the Estlink 1 cable
failure for a large part of the month, which caused a larger difference between
the bidding areas.
Elering
earned 1.3 mln euros in income from the allocation of transmission
capacity during the month.
The prices of carbon dioxide emission quotas, which impact
the price of electricity, exhibited a slight downward trend for a second
consecutive month, emerging at 15.62 to 20.92 euros per ton.
Based on futures trades on the Nasdaq OMX exchange, as of
the last trading day of the month, the exchange price of electricity in
Estonia could shape up to be 51.8 euros per megawatt-hour in December
and on average 48.7 euros per megawatt-hour next year, respectively 51.8
and 47.8 euros per megawatt-hour in Finland and 55.65 and 51.6 euros per megawatt-hour
in Latvia.