Electricity prices in the Nord Pool Estonia pricing area are projected to increase by 11.7% on Tuesday compared to Monday, reaching an average of €199.96 per megawatt-hour. This sharp rise comes despite a brief retreat from frigid temperatures in the region. The forecast indicates that energy production from wind farms will decline significantly, which contributes to the soaring prices, as demand continues to be high amidst the cold weather conditions.

On Tuesday morning during peak hours, the prices are expected to reach an alarming €347.60 per megawatt-hour between 8:45 AM and 9:00 AM, while even during the most favorable time around 6:00 AM to 6:15 AM, the price will not drop below €100, sitting at €107.56. These figures indicate a dramatic escalation in energy costs, raising concerns about the affordability and accessibility of electricity for consumers in Estonia.

Comparative analysis reveals that electricity prices in neighboring countries are similar, with Finland's average price projected at €199.16 and Latvia and Lithuania at €204.57 per megawatt-hour. This regional consistency in high energy prices underscores the broader challenges faced by the Baltic states in managing energy production and consumption during extreme weather conditions, indicating a potential area for policy focus to ensure stable energy supply and pricing for consumers.