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- 3 files (PDF report, 2 Excel files)
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37 (Report only)
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- Immediate by e-mail
- 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 leat 65% of renwbles 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.
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
Resources:
Estonia has very few conventional resources. However, the country does have important reserves of oil shale (around 50 years), peat and wood.
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 by 17%/year for industry since 2022 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 under EU average (4 600 kWh, -15%).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
Gas:
Eesti Gaas expects Estonia's gas consumption to decline through 2027, due to efficiency gains in district heating and buildings, and to biomass conversions in the power and heating sectors.