Tonight the price for electricity is at the maximum

The price would presumably be even higher but can't be because 4,000 megawatt-hour is already the maximum cost for electricity exchange.

The cost of electricity has been unprecedentedly high, but the price for this hour this evening is the kind we have not seen yet. The high cost is due to the demand being higher than the supply.

The electricity exchange between the Baltic countries, Russia, and Belarus, as well as between Finland and Russia, has been interrupted since spring; the result is a significant deficit in electricity. Another major factor in the high price of electricity is natural gas. The cost of natural gas is enormously risen throughout the last year, mainly due to geopolitical reasons.

There is currently not enough electricity production in the Baltic countries. The same applies to the Nordic countries, resulting in high prices. Nord Pool runs the leading power market in Europe. Ingrid Arus, the Head of Nord Pool Spot Baltics, says that usually they are prepared for situations like this, using the reserves but tonight is the first time when the supply is lower than the demand.

One reason for the electricity shortage is the repairs in the Narva City in the NE of Estonia (pop.54,000). power plants, which should be completed by the end of next week. The Estonian-Finnish cable is also limited, allowing the electricity price to be several times lower than it is in Estonia.

Reaching the price ceiling of 4,000 euros per megawatt-hour means that the new price ceiling of the electricity exchange is one thousand euros higher, 5,000 euros.

Some approximate examples of using your home appliances tonight between 18:00-19:00:
A refrigerator with a capacity of 315 W will cost 1,27€
TV set 0,20€
Washing machine with a capacity of 400 W 1,6€
Water boiler 2000 W 8,07€
Electric stove 4,8€
Vacuum cleaner 400 W 1,61€
Air source heat pump more than 10€
Sauna electric heater more than 30€
Charging an iPhone 0,08€
Charging an Android 0,05€