Doing laundry, cooking and storing food are everyday activities that have a big impact on the electricity bills we receive at the end of each month. When looking for ways to reduce expenses, it would be worthwhile to check your household appliances and their energy consumption. This is where energy labels come into play.
Warm and windy weather has led to lower electricity prices across Europe, but winter, not to mention the energy crisis, is far from over. February, which is statistically the coldest month, is yet to come, and a drop in gas prices could pose additional challenges.
While concluding an electricity contract is just a few clicks away, it may take longer to choose the package that suits your needs. Enefit has five electricity packages available, suitable for consumers seeking long-term security as well as for those willing to take risks.
New Year’s Eve brought a heat wave to Europe, making electricity prices lower than normally seen in recent months. The market price of natural gas also fell to the level it was last before the Russian invasion of Ukraine.
The warm and windy weather as well as lower energy consumption during the holidays made it possible for both Estonia and Europe in general to enjoy electricity prices with the minus sign at times and to fill gas reserves instead of emptying them.
Warmer weather, higher wind energy output and lower consumption made it possible to significantly lower the price of electricity last week compared to previous weeks. While the decision to invest in the Sopi-Tootsi Wind Farm added optimism for the coming years, the postponement of the start-up of nuclear reactor Olkiluoto 3 to March added clouds of worry to our region despite the quite successful coping with the energy crisis so far.
Christmas is a time when there is again a reason to get together with family and loved ones to rest and enjoy each other’s company. Home decorating, gifts and feasts go hand-in-hand with the holidays, but unfortunately it comes with a lot of waste that is harmful to the environment.
Last week’s electricity prices stayed at the same level as the previous week, rising just enough to reach the third most expensive position on the all-time list, after two record weeks last August. This week’s warmer weather and the end of nuclear plant repairs in Sweden will bring down electricity prices.
The arrival of the cold wave in Europe will test the mitigation measures for the energy crisis, accelerating the depletion of gas reserves. The situation in Scandinavia and the Baltic countries is complicated by the maintenance of three powerful nuclear reactors, which is why reserve power plants running on fuel oil were launched in Sweden today.
Electricity prices rose by an average of €90 per megawatt-hour in our price zone last week, primarily affected by colder and drier weather with quite low wind power output. Most of the attention was on the price ceiling for Russian oil and the sanctions that have started to work, but the markets are still in a wait-and-see position.
You are on Enefit’s energy wisdom page where we share up-to-date information about what’s going on in the energy world and help you make better decisions regarding energy. Your questions and topic suggestions are welcome by e-mail at blog@energia.ee
