Economics, Energy, Estonia

International Internet Magazine. Baltic States news & analytics Saturday, 08.08.2020, 11:18

Juhan Parts: Estonian economy benefits from opening of the electricity market

Juhan Tere, BC, Tallinn, 31.03.2010.Print version
Opening up Estonian electricity market to large consumers benefits the Estonian economy more than it harms individual companies, Estonian economy and communications minister Juhan Parts said in national television ETV’s morning programme on Wednesday.

Juhan Parts.

On Thursday, April 1, the Estonian electricity market will be subject to open competition for the 230 biggest electricity consumers that consume over 2 GWh of electric energy a year and who hold 35% of the electricity market. Äripäev Online said that the large consumers can choose between four balance administrators at the Estonian market when buying electricity starting April. Those who don’t find a suitable electricity seller from the market, with whom to conclude a longer-term contract, can buy electricity from electricity bourse where prices change every day, writes LETA.

 

“For companies and I think for all of us it is a new thing. In this respect there is insecurity and unclarity of how to behave at the market and how to forecast the future better. It takes time to get used to it and the carefulness of companies is completely understandable. Not to speak about the fact that no one knows what the real market price will be,” said Parts in ETV.

 

Parts said that it is important to open up the electricity market because of energy security; the aim is also to physically link the Estonian energy system with the European energy system.

 

The minister claimed that the possible effects of opening up the market have been analysed company by company and he dares to say that the effects are relatively small.

 

The market will open up for medium and small sized electricity consumers and households in 2013.






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