In Estonia, companies are raising alarms about the high pricing of carbon quotas, currently at approximately 80 euros per ton, which they believe is excessively high. This comes as the European Union begins to consider possible reforms to the emissions trading system, aimed at stabilizing the volatile market prices. The energy sector, particularly the oil shale industry in Estonia, is the most significant emitter and hence heavily impacted by these prices.

The volatility of the carbon quota prices has been acute, with notable fluctuations observed over the past ten months. For instance, the price jumped from 65 euros per ton at the beginning of last year to a staggering 95 euros in January. Such rapid changes have raised considerable concern among companies, especially those in the energy sector, as the price significantly influences electricity production costs, driving up prices for consumers. Enefit Power's chairman, Lauri Karp, emphasized that the carbon quota contributes about two-thirds to electricity costs, underlining its critical relevance to everyday consumers in Estonia.

Additionally, companies like Tallink are also affected, facing substantial costs, with projections of 18 million euros this year alone. The necessity for a price regulation mechanism is becoming increasingly apparent as industries struggle to adapt to these rising costs. Estonia's support for stabilizing and potentially lowering the market prices for carbon quotas reflects a broader concern regarding the effect of these costs on both businesses and consumers within the EU.