Analytics, Energy, Energy Market, Estonia

International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 14:53

Eesti Energia: Warmer weather kept electricity price low in November

BC, Tallinn, 12.12.2019.Print version
Generally warm weather and an increase in electricity production in anticipation of colder weather helped keep the price of electricity low in November, the Estonian state-owned power generating group Eesti Energia said on Thursday.

The free market price of electricity was kept on the previous level also by lower Nordic hydro stocks and the price of carbon dioxide emission credits remaining on the previous month's level.

Compared with October, the price of electricity in price area Estonia declined 4.11 percent to 45.72 euros per megawatt-hour. Year over year, the average price climbed 13.11%.

The balance of Nordic hydro stocks dropped by 7.08 terawatt-hours (TWh) compared with October. The price of carbon emission credits slid 0.69% on month to 24.55 euros per ton.

The price of electricity declined in all price areas compared with October. The average price for Lithuania in November was 44.7 euros, the average price for Latvia 45.26 euros, the average price for Finland 45.71 euros and the average price for Poland 50.69 euros per megawatt-hour.

Gas prices meanwhile moved up due to the beginning of the heating season. On the Gaspool market, the price rose 4.2% on month to 15.88 euros per megawatt-hour. Year over year, a drop of 36.39% was registered, however.

The oil market rose as a result of the trade rift between the United States and China and the market's expectation that the OPEC deal on production cuts will hold longer. The price of crude climbed 5.16% month over month to 62.71 US dollars per barrel in November.

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