To answer the question of why the price of electricity is so high, you need to know that the price of electricity is formed on the common electricity market of the Nordic and Baltic countries and does not depend too much on which power plants operate in Estonia.
If wind, solar and hydropower plants cannot operate in sufficient quantities due to weather conditions, it is necessary to start up gas and coal plants or standby power plants, the costs of which are higher due to the CO2 emission tax and the fuel price.
The current price increase is the result of the coincidence of two unfavorable circumstances. These are the cold climate, which increases overall electricity consumption, and low wind energy production across the Baltic region.
How to protect yourself from high prices?
The high stock market price mainly affects consumers who consume electricity based on the stock market price and are therefore directly dependent on what happens on the market. If you want to save on costs, it is best to take stock market prices into account and reduce consumption during the most expensive hours or postpone activities that require more electricity to times when the price is more convenient.
Enefit customers can see current electricity exchange prices in our mobile app. This way important information is always at hand and timing consumption is even easier. More conscious consumption allows you to save almost 10% on electricity costs.
If you don’t want to follow what’s happening on the stock market, we recommend reviewing your current electricity package and considering pricing it. With the fixed package the price of electricity remains the same during the agreed period. The price can be fixed for six months or more. Read more here.
Below, we’ve outlined some simpler tips that can be implemented immediately to reduce costs.
Keep radiators clean
If the room tends to cool during the colder period, one of the first things to do is to ensure that the radiators are not covered.
Since radiators are positioned on the wall, they often tend to be hidden by curtains or sometimes even larger furniture. However, this prevents the free circulation of warm air in the room, which is why, for example, it can be very hot behind the sofa, but it can still be cool in the room.
Check windows and doors
Windows in older (and even newer) homes or apartments may not retain heat sufficiently. Cracks around window frames or entry doors can allow warm air to escape, keeping the apartment or house cool even if it is constantly heated.
For the colder period the windows and doors should be re-insulated. For this purpose you can use, for example, mounting foams or tapes sold in hardware stores. You should definitely follow the manufacturer’s instructions when using the products. In addition, it should be borne in mind that insulation around the window can reduce the natural air exchange in the room, which in turn affects the indoor climate.
Turn off
It is wiser to temporarily unplug appliances and other electronic devices that are not currently being used. A device connected to the grid consumes electricity even when it is not actively used.
In today’s households you can find up to 20 devices constantly on standby, consuming electricity 24 hours a day, 365 days a year. These include, for example, a washing machine, a microwave oven, a toaster, a kettle, but also a charger, a television, a table lamp or an electric toothbrush.
The consumption of such standby devices can be up to 10% of the total electricity bill.
Lowering the room temperature by one degree saves money
When adjusting indoor thermostats, you should choose a temperature you feel comfortable with, but it’s worth remembering that even just one degree lower in temperature helps reduce your heating costs by 5%. It is important to take this into account if you heat with independent heating or if the district heating meter measures the consumption of each apartment separately.
Also try to avoid overheating so as not to overload the electrical system.
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2024-01-05 13:15:00
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