The Competition Authority of Estonia released a conclusion that the cost of electricity distribution services of electric grid operator Elektrilevi was not adjusted to their current costs and should be lowered by 6.7%.
Because network charges make up 50-55% of the consumer price of electricity, the price of electricity for the average consumer should drop by 3.6% as a result.
The key reasons why the price of the network service ought to be reduced were lower network losses, drop in the price of free market electricity in recent years, with the third reason being lower interest rates, which serve as basis for calculating the size of the profit earned by the company.
Reacting to the announcement, Elektrilevi stated that it would file an application by the end of January 2017 to lower the price of its service. (BNN/Business World Magazine)
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