Energy, Energy Market, Estonia
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Friday, 19.04.2024, 21:39
Estonia: Strong wind production, hydropower lower electricity prices in July
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The average price of electricity in Estonia in July was 32.45 euros per megawatt hour, 21.6 percent lower than in June. However, the price was 25.3% lower than in July 2019, state-owned energy group Eesti Energia said in an energy market overview.
The balance of Nordic hydro stocks increased by 6.22 terawatt-hours month over month and is 15.2 terawatt-hours above normal, which may have a decreasing effect on electricity prices in the coming months as well.
The price of carbon emission credits rose 16.31 percent compared with June to 27.45 euros per ton. Credit prices continued to rise due to strong demand.
The oil market experienced a slight rise in July and was steadily on the rise. A similar movement took place in the gas market. The price of crude oil rose 5.70% m-o-m to 43.22 US dollars per barrel.
The average price of natural gas on the Gaspool market rose 1.86% compared with June to 5.42 euros per megawatt-hour.
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