The beginning of the year has seen a dramatic increase in electricity prices in Estonia, reaching nearly 400 euros per megawatt-hour by February. These surging costs have pressured many families and companies to restrict their electricity consumption, leading to unexpectedly high bills that have caused shock among consumers. An illustrative case is Estonian Cell, which was hit with a staggering 1.5 million euro invoice for its January electricity usage. This alarming situation raises questions about the underlying reasons for such price spikes in the energy sector and how they impact residents and businesses alike.

Despite cold winters and increased electricity consumption being familiar challenges for Nordic countries, the current circumstances seem to catch authorities off guard, suggesting a lack of preparedness. Only two years ago, residents faced similarly high electricity prices, yet little has been done to prevent recurrence. The article argues that the government must acknowledge its shortcomings in planning for electricity supply and demand, especially during winter when consumption typically surges due to colder weather and increased heating needs.

To address the challenges posed by high electricity demand during the winter months, the article calls for enhanced capabilities in controllable power generation and connection capacity. It emphasizes the necessity of reducing outage risks and ensuring adequate production reserves. The recent malfunction of the subsea cable EstLink 2 has severely reduced electricity imports, further complicating an already strained situation, highlighting the urgent need for strategic planning to stabilize electricity supply in Estonia during peak demand periods.