The government decided on Thursday to submit the draft of the Electricity Market Reform Act for discussion at an extraordinary sitting of the Riigikogu, which will take place on August 31. The act will oblige state-owned energy provider Eesti Energia to supply electricity at a controlled price as a universal service for household consumers over the next four years.
Enefit Power, a subsidiary of Eesti Energia that operates in the field of electricity production from non-renewable sources in Ida-Viru County, anticipates difficult pay negotiations due to both rapid inflation and the removal of Soviet monuments in the region.
One of the factors contributing to the record-high cost of electricity in Estonia on Wednesday is the repairs currently underway on several energy blocks at the power plants in Narva. While two blocks will be restarted within the next few days, Auvere Power Plant is also slated to be shut down for a month of repairs this fall.
Today's record high electricity stock exchange price is due to a number of factors coinciding at the same time and all options to increase imports are exhausted, Nord Pool said on Tuesday.