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Estonia energy report

Estonia energy report
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Format
3 files (PDF report, 2 Excel files)
Pages
37 (Report only)
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Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Estonia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • Estonia aims to limit the share of oil shale in its energy mix and targets a share of at least 65% of renewables in total final consumption in 2030.
  • Eesti Energia dominates the power sector with 85% of generation, over 95% of distribution, and around 50% of total sales.
  • The share of oil shale in the power mix was reduced from 88% in 2010 to 46% in 2023.
  • Gas prices more than doubled in 2021 and 2022 and have decreased significantly since then.
  • Electricity prices, which were multiplied by 2.5 for industry between 2020 and 2022 and rose by around 80% for households, decreased by 30% for industry and remained stable for households.
  • Oil shale dominates the energy mix (57% in 2023), with 2/3 used in power generation and 1/3 used to produce fuel.
  • The development of wind is the main priority, with a lot of offshore projects.
  • After failing to reach an agreement with Finland, Estonia is developing several LNG terminal projects.
57%
of primary energy consumption from oil shale in 2023
X3
electricity imports since 2017
100%
of renewables in power mix by 2030

  • Institutions & Energy Policy

    The Department of Energy of the Ministry of Economic Affairs and Communications is responsible for the energy policy.

    The Estonian Competition Authority regulates the energy sector and reports to the Ministry of Economic Affairs and Communications.

  • Energy Companies

    Oil:

    Four main operators are involved in the supply, trading, and logistics of oil: Alexela, Vopak EOS, Scantrans (Ireland) and Eurodek (Denmark). Alexela operates two oil terminals: one in Paldiski with an oil storage capacity of about 358 000 m3 and one in Sillamäe with a storage capacity of about 506 000 m3. In 2019, Vopak sold its 1 mcm terminal in Tallinn to Liwathon.

  • Energy Supply

    Gas:

    Between 2018 and 2023, gas imports decreased by 9%/year to 320 mcm in 2023. They averaged 1 bcm between 2005 and 2008, then fell until 2015 (471 mcm) and remained stable until 2018.

  • Energy Prices

    Electricity:

    After a sharp rise between 2020 and 2022 (60%/year for industry and 33%/year for households), electricity prices underwent a significant reduction of 17%/year for industry since 2022 to 13.2€c/kWh in 2024, while the price for households only decreased by 2%/year to 20.7€c/kWh. Electricity prices, however, remained around 30% below the EU average.

  • Energy Consumption

    Total energy consumption per capita is about 3 toe/cap (2023), i.e. 9% above the EU average. This is mainly due to the high share of oil shale, since it requires a significant amount of energy to be processed. Electricity consumption per capita is below the EU average (4 600 kWh, -15%).

    Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

  • Issues & Prospects

    Electricity:

    According to Elering, electricity consumption should rise by 1.1%/year between 2020 and 2030, reaching 9.4 TWh; peak demand should grow more slowly and remain under 1 700 MW. By this date, the installed capacity should decrease by more than 500 MW, due to the decommissioning of thermal capacities at the Narva power plants as of 2024.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • GRAPH 5: Gasoline & diesel prices (€/l)
  • GRAPH 6: Electricity prices for industry and households (€c/kWh)
  • GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2023, %)
  • GRAPH 10: Final consumption market share by sector (2023 %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2023, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2023,%)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2023, %)
  • GRAPH 17: Oil shale consumption (Mt)
  • GRAPH 18: Oil shale consumption breakdown by sector (2023, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Estonia energy market data since 1990 and up to is included in the Excel file accompanying the Estonia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Estonia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Estonia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).