Estonia's Energy Market Overview for September 2024 Revealed
The Estonian Competition Authority's report on the energy markets in September 2024 highlights electricity and gas prices, future price forecasts, and comparisons of energy packages.
05.11.2024 | Estonian competition authority
The Estonian Competition Authority's report for September 2024 provides insights into the average electricity prices in different regions, with Estonia at €84.15/MWh, Latvia at €83.95/MWh, Lithuania at €83.54/MWh, and Finland at €56.02/MWh.
Future price forecasts based on derivative instruments indicate that the projected electricity price will peak in the fourth quarter of 2024 at €92.95/MWh and the gas price will peak in the first quarter of 2025 at €40.46/MWh.
The report also covers the average price of natural gas traded on the Baltic-Finland gas exchange, GET Baltic, which stood at €41.44/MWh in July according to the Baltic Gas Spot Index (BGSI). Additionally, it includes a comparison of electricity and gas package prices, showing that as of October 21, 2024, the most cost-effective electricity package was a fixed package with a disconnection fee, while the best gas package was the exchange package.