Government endorses bill for full opening of electricity market

At its Thursday session, the Estonian government endorsed a bill, the full application of which will give the basis for full opening of the electricity market from the beginning of 2013. Starting from that moment the state will no longer regulate the electricity price and all consumers can freely choose the electricity seller, the government communication offices said.

In the future consumers will have the free choice of electricity seller regardless of what grid company’s clients they are. The opening of the market pertains to the purchase of electricity, while the grid services fee will remain under the price regulation of the Competition Authority. The price of electricity will account for about 35% of an average retail electricity user.

According to an explanation of the Economic and Communications Ministry, the bill lays down as the most important point the term of general service: if the electricity consumer has not chosen a new electricity seller and has signed a contract with it, it will automatically be buying electricity as a general service.

The price of electricity sold as a general service will be calculated by the grid company on the basis of the weighted average price during the calendar month, to which it may add the justified cost of expenditures and a reasonable business profit, considering the permanent and movable expenditures, the economic value-added indicator and revenue of its stock capital.

Source: Estonian Review

Warmest November registered in Estonia

The average temperature recorded in November was 5 degrees, which according to the Meteorological and Hydrological Institute (EMHI), is an all-time high.

Külli Loodla, head of the Meteorological Observation Department at EMHI, said that by contrast last November’s average temperature was just 0.9 degrees. The last days of November 2010 were very cold and it had already started snowing by 25 November, Loodla told uudised.err.ee.

The previous record-breaking temperature dates back to 1961.

Source: Estonian Review