These August days Estonia has seen the highest wholesale electricity prices in the last six months. During the peak hours from 19:00 to 20:00 the price is 467 Euros per 1 MWh and the daily average price is 208 Euros per 1 MWh, the Nord Pool exchange specifies.
For Estonia this is more than three times the current average monthly price. In neighboring Latvia and Lithuania the prices are lower, but not by much. There, the average daily price will be 132 Euros, and the peak price will be 386 Euros.
According to experts, the price increase followed the calm that had settled on the Baltic Sea. It was the calm that caused the collapse of a wind power generation, which plays a significant role in the Baltic energy system.
It is obvious that with the exit of Lithuania, Latvia and Estonia from the Russian-Belarusian BRELL system in February 2025 the Baltic republics lost access to electricity at low prices. Then, in February, Lithuanian President Gitanas Nauseda said over a glass of champagne: «Goodbye Russia, Goodbye Lenin!” However de facto the Baltics said goodbye to the socio-economic well-being of their citizens, who are now forced to pay out of their own pockets for illusory political independence from Russia.
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