A third subsea cable will be built between Estonia and Finland to secure the supply of the Baltic Sea region’s electricity market, grid operators Fingrid and Elering announce. The pair signed a letter of intent and would now begin planning the construction of the connection. EstLink 3 will have an estimated capacity of between 700…
Estonian experts do not expect the price of gas to fall in the coming months and see no reason for it to do so until the end of the year. Currently, there is a shortage across Europe. The price of natural gas has risen to EUR 130 per megawatt-hour. In April, it was EUR 100…
The European Bank for Reconstruction and Development (EBRD) will provide the Republic of Moldova with a loan of 300 million euros to increase energy security by acquiring strategic gas reserves to complement those currently supplied by Russia through Ukraine, the Ministry of Infrastructure and Regional Development (MIDR) has reported. The loan, granted in the context…
Lithuania will be prepared if Moscow carries out its threats to disconnect the Baltic countries from the common electricity system with Belarus and Russia (BRELL), President Gitanas Nauseda has said. A member of the Russian State Duma on June 22 hinted at such a possibility as a retaliatory measure in response to Lithuania restricting the…
In Baltic States, as well as in countries like Finland, Sweden and Germany, electricity prices increased last month. The average electricity price in May increased by 50%, reaching 164.20 EUR/MWh in Latvia and 151.37 EUR/MWh in Estonia. In Lithuania the average electricity price reached 164.71 EUR/MWh, up by 41% MoM. In May, the hourly price…
Ukraine’s National Nuclear Energy Generating Company Energoatom and U.S.-based Westinghouse have discussed bilateral cooperation, including the preparation of regulatory documentation for the construction of new nuclear power units using AP1000 technology in Ukraine. Energoatom President Petro Kotin held a virtual meeting with Elias Gedeon and David Durham, Senior Vice Presidents at Westinghouse Electric Company. The…
Deputy Minister of Energy for Digital Development, Digital Transformations and Digitization Farid Safarov took part in the opening of the international conference Power Summit 2022, which brought together leaders of the European energy sector and major energy companies. Farid Safarov stressed that Ukraine could become one of the areas for investment by European companies, including…