The electricity price in Estonia is to rise by 9 percent on-day to Friday, and will be nearly €700 per megawatt-hour at peak time, in the evening.
The average price Friday as quoted on the Nord Pool exchange will be €124.49 per megawatt-hour. The peak price of €689.99 will be found between 6:45 p.m. and 7:00 p.m. (prices are now quoted in quarter-hour units).
The cheapest electricity will be overnight Friday to Saturday, when it will fall as low as €8.88 per megawatt-hour.
The Nord Pool started quoting prices in 15-minute intervals from October 1.
Consumers with exchange-based packages will see bills based on 15-minute intervals once new meters are installed, with hourly consumption temporarily divided for billing. This installation will not be finished until 2031, however, and prices to households are not forecast to rise or fall as a result of the switch.
The change in the immediate term mostly affects large, commercial consumers, and also the electricity generators themselves.
The transition is due to EU electricity market rules, which require more precise accounting of production and consumption. The rationale is that shorter time intervals help better reflect real changes in supply and demand and reduce the costs incurred from balancing the system, Estonia’s system operator Elering has said.
In Latvia and Lithuania, the average exchange price of electricity on Friday will be higher than in Estonia — at €141.78 per megawatt-hour.
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