Estonia's Power Grid Instability Deepens with Sharp Price Spike
Electricity prices in Estonia are set to surge by 23.4% to an average of €198.91 per megawatt-hour on February 6, just one day after hitting a five-day low, with morning peak rates expected to reach €353 in a clear sign of persistent market instability across the Baltic region.
- —The average electricity price in Estonia's Nord Pool bidding area is set to reach €198.91 per megawatt-hour on February 6, 2026, a 23.4% increase from the previous day.
- —Daily price fluctuations are expected to be substantial, with peak prices reaching €353 per megawatt-hour at 9:30 AM, while dropping to €94.59 per megawatt-hour overnight.
- —Prices in Latvia and Lithuania are mirroring Estonia's, while Finland's average price is €198.82 per megawatt-hour.
- —On February 5, 2026, the average daily electricity price in Estonia was €161.15 per megawatt-hour, marking a 18.5% decrease from the day prior and the lowest in five days.
Recap
The sharp rebound in Estonian electricity prices underscores a persistent and severe market instability affecting the entire Baltic region. This pattern of extreme daily fluctuations, driven by weather and fragile generation capacity, poses significant economic risks to both businesses and households. The synchronized price movements with Latvia, Lithuania, and Finland reveal a shared vulnerability, indicating these are not isolated national issues but systemic pressures on an integrated regional power grid.