Energy Market Overview

The exchange price of electricity fell last week in Estonia, Latvia, Lithuania and Finland, but the most important events for Europe took place at the bottom of the Baltic Sea. Namely, Gazprom announced that the pipeline of Nord Stream 1, which was supposed to start working on Saturday after three days of maintenance, would remain offline for an unknown period of time.

The average exchange price of electricity last week in the Estonian price area was 385.3 EUR/MWh, being 8.8% lower than the week before. On the other hand in Latvia, Lithuania and Finland, the average exchange price continued to increase. The Estonian-Latvian transmission capacity was limited to 600 MW during the peak hours from Wednesday to Saturday last week, which led to Finnish prices being equal to Estonian prices throughout the week.

The average exchange price of electricity last week in the Estonian price area was 422.61 EUR/MWh, being 19.47% higher than the week before.