The Center Party faction's chairman Jaanus Karilaid Estonian politician. says that the government has to take on a comprehensive reform of the electricity exchange; otherwise, Estonia has to leave the Nord Pool exchange.
Yesterday, on the 17th of August, from 18:00-19:00, we saw an absolute ceiling of the electricity price of 4,000MW per hour. Many small businesses were forced to close their doors because of that. Some big enterprises like Noorus SPA in Narva-Jõesuu Town in the NE of Estonia (pop. 2,500). have announced dismissing some of their staff and hinting they might have to close their doors for good. Karialid predicts that if the PM does not act on the situation immediately, this is only the beginning, and we will see many bankruptcies of businesses, regardless of their size. This will leave thousands out of jobs.