Average weekly electricity price on exchange drops to 2.46 cents per kWh
Last week, the average electricity price in the Estonian price zone of the Nord Pool exchange halved to 2.46 cents per kilowatt-hour. Prices in Latvia and Lithuania averaged about 3.8 cents, while in Finland they were 1.47 cents.
During the week from 27 July to 2 August, the average price of electricity in the Estonian price zone at the Nord Pool exchange fell by half compared with the previous week. The weekly average stood at 2.46 cents per kilowatt-hour, down from 4.87 cents a week earlier. This means the price declined by roughly 2.4 cents over the week.
In the Latvian and Lithuanian price zones, the average exchange price for electricity over the same period was approximately 3.8 cents per kilowatt-hour. In Finland, the average was considerably lower, at 1.47 cents. The differences between countries reflect conditions in each trading zone.
It should be noted that these exchange prices are not the final amount paid by consumers. The final bill includes value-added tax, various charges, excise taxes and other payment components. Therefore, the actual impact of electricity costs on household and business budgets also depends on national taxes and grid service costs. Still, the exchange price is an important indicator of the market value of electricity in a given period.
The comparison with the previous week shows that wholesale electricity prices can change noticeably depending on market conditions. This information is relevant for households and businesses when planning their energy expenditures. Although the exchange price has dropped, the final effect on consumer bills may vary depending on how suppliers set their tariffs.
