Estonia approves law to full opening of electricity market

The Estonian Riigikogu approved on Wednesday of the amendments to the electricity market law which opens up the Estonian electricity market to competition fully from January 1, 2012, LETA/Public Broadcasting reports.

The finance ministry has forecast that opening of the electricity market will increase the price of electricity by nearly 17% next year while electric energy tariff increases nearly 50%.

The electricity bill consists of four components: electric energy tariff, grid service, renewable energy fee and electricity excise tax. The electric energy tariff forms 33% of the electricity bill.

Transition to the open market means that all Estonian residential consumers and small companies have to choose their electricity seller at the end of this year. Large scale consumers buy electricity from the open market already.

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