The Estonian competition authority has released a summary indicating that the average electricity price in the Estonian price area for 2024 was €87.27/MWh, down from €90.78/MWh in 2023. The highest average electricity price occurred in January at €126.48/MWh, while the maximum price reached an astonishing €1896/MWh on January 5, 2024. Conversely, the lowest price recorded was -€19.96/MWh on August 25, 2024.

For natural gas, the average price in 2024 was €37.09/MWh, a decrease from €45.72/MWh in 2023. The highest average gas price was noted in December at €45.50/MWh, with a peak price of €48.62/MWh on December 4, 2024. The lowest gas price was €24.12/MWh on February 24, 2024.

Throughout 2023 and 2024, the majority of hours saw electricity prices ranging between €30 and €100/MWh. There was also an increase in hours with prices between €100 and €200/MWh compared to the previous year. However, hours with prices between -€60 and €0/MWh were the least frequent in both years. Notably, 2024 experienced more instances of negative pricing and lower prices in the €0–€10/MWh range compared to 2023.

The increased volatility in electricity prices is attributed to significant investments in renewable energy, with approximately 300 MW of solar power and 305 MW of wind power added in 2024. The competition authority's role includes developing a competitive, flexible, secure, and environmentally sustainable electricity market, coordinating network fees, and overseeing compliance with operational obligations.

In the gas sector, the authority focuses on developing a competitive and secure natural gas market, coordinating network service pricing, and ensuring compliance with quality requirements.