elektriturg

Elektriturg is the Estonian term for the electricity market, referring to the system and institutions through which electricity is bought and sold. It comprises wholesale markets where generators sell power and retailers buy it for customers, as well as retail markets where end users procure electricity. The elektriturg also includes the transmission and distribution networks, metering, and the regulatory and supervisory framework that governs pricing, access, and reliability. The market operates through various players including power producers, traders, grid operators, suppliers, regulators, and consumers.

In most liberalized markets, price formation occurs in wholesale markets, including day-ahead and intraday auctions and a balancing market used to maintain grid stability. Prices are influenced by demand forecasts, supply offers, transmission constraints, and cross-border flows. Retail prices for consumers are typically determined by contracts with suppliers, sometimes reflecting wholesale price developments plus charges for network usage and taxes.

Regulation aims to ensure fair access to the transmission system (unbundling of network and generation), competition among suppliers, reliable supply, and protection of consumers. In the European Union and many other regions, electricity markets have moved from centralized monopolies to liberalized systems with market coupling and cross-border trade, increasing competition and efficiency. In Estonia and other Baltic states, the term elektriturg is commonly used to denote the national electricity market as part of this broader European framework.

See also: electricity market, energy market liberalization, market coupling.