Electricity prices in Estonia 2022
In 2022, the average wholesale day-ahead electricity price in Estonia was € 0.1921 /kWh. Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2022
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2022 | € 141.12 | € 0.1411 | 1,180 |
| February 2022 | € 104.79 | € 0.1048 | 1,149 |
| March 2022 | € 151.54 | € 0.1515 | 1,080 |
| April 2022 | € 101.01 | € 0.1010 | 998 |
| May 2022 | € 151.84 | € 0.1518 | 919 |
| June 2022 | € 173.86 | € 0.1739 | 861 |
| July 2022 | € 233.72 | € 0.2337 | 795 |
| August 2022 | € 361.37 | € 0.3614 | 819 |
| September 2022 | € 228.34 | € 0.2283 | 861 |
| October 2022 | € 174.52 | € 0.1745 | 893 |
| November 2022 | € 219.21 | € 0.2192 | 976 |
| December 2022 | € 263.61 | € 0.2636 | 1,114 |
Estonia's electricity sector is undergoing a rapid pivot away from oil shale, the carbon-intensive sedimentary rock that powered the country for 60 years. As recently as 2018 oil shale provided over 75% of generation; by 2025 the share had dropped to under 25% and is targeted to end by 2035. Elering, the national TSO, runs the EE bidding zone within the Baltic synchronous area — set to fully desynchronize from the Russian IPS/UPS system in February 2025 and join the Continental European grid via the LitPol Link and Harmony Link to Poland.
Wind has expanded to ~25% of generation; solar PV now exceeds 700 MW. The Estlink-1 and -2 HVDC cables to Finland make Estonia tightly coupled to Nordic prices, especially during low-wind winter weeks.
The first nuclear reactor is being studied for the late 2030s but no final investment decision has been taken.