The Estonian competition authority, known as Konkurentsiamet, has released its energy market overview for December 2024. According to data from the electricity market operator Nord Pool, the average electricity price in Estonia was €84.28/MWh, while Latvia and Lithuania saw higher prices at €90.51/MWh and €89.69/MWh, respectively. In contrast, Finland had a significantly lower average price of €38.79/MWh.

Looking ahead, the report indicates that forecasted electricity prices are expected to peak in the fourth quarter of 2025, with an anticipated price of €104.77/MWh. Additionally, the forecast for gas prices is projected to be highest in the first quarter of 2025, estimated at €44.82/MWh.

The overview also includes data from the Baltic-Finnish gas exchange GET Baltic, where the average traded gas price in December was €46.70/MWh, as per the Baltic Gas Spot Index (BGSI). Furthermore, a comparison of electricity and gas package prices revealed that the most cost-effective option for electricity was the market package, while for gas, the variable price package was the most affordable as of January 8, 2025.

For more detailed insights, the full energy market overview for December 2024 is available in a PDF format from the Estonian competition authority's website.