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Estonia's Energy Market Overview for September 2024 Revealed

a black and white chessboard with a white king and a black queen clashing and flying
Photo: Fatima Shahid

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.

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