Energy market overview in August 2014

Electricity August Day-Ahead market prices lower than July in Estonia, Latvia and Lithuania, but higher than in earlier months. Estonian enterprises prefer fixed price electricity contracts. Finnish August electricity market prices highest since January. Finnish nuclear power plant Olkiluoto-3 delayed even further. Natural gas prices continued fast growth throughout August. Crude oil price held near a one year low. Erkki Raasuke was elected as the new Head of Supervisory Council of Eesti Energia. Litgas and Statoil signed a long-term deal to supply Klaipeda LNG terminal with gas.

Lower August air temperatures lifted electricity demand. Low levels of precipitation in Northern Europe forecast for September may lift electricity prices. EstLink-2 failure lasting for several days slightly lifted Estonian electricity market prices. Effects of Ukrainian crisis on Continental Europe may transfer to Northern Europe. Carbon dioxide prices kept at a high level due to paused government auctions in August. Crude oil price was kept low by little demand in Europe and large levels of supply to the market. Ukrainian political tensions and European stagnating economy lowered the euro against the dollar even further.

Energy market overview in August 2014 »