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Universal price of electricity to be determined by 30 September

The Competition Authority is fast-tracking the analysis of data submitted by Enefit Power in order for the universal price of electricity to be confirmed by 30 September.


According to Evelin Pärn-Lee, Director General of the Competition Authority, the next step for Enefit Power is to submit an application for the approval of the price of electricity production to the Competition Authority. “The Competition Authority will carry out a procedure regarding the application, which will conclude with a decision to either approve the price or, if the application is not approved, set a temporary price,” claimed Pärn-Lee.
Enefit Power and the Competition Authority are currently in close cooperation, in the course of which the undertaking has submitted data to the agency which allow for the processing and decision-making to be sped up.


Today, at the third reading, the Riigikogu approved amendments to the legislation, on the basis of which electricity sellers will be able to sell electricity to household customers as a universal service from 1 October. The draft act amending the Electricity Market Act and the Competition Act obliges Eesti Energia to also sell electricity to household customers and electricity resellers as a universal service from October until the end of April 2026. The possibility of providing the universal service is guaranteed for other electricity sellers. 


The universal price of electricity (which will be paid by consumers) consists of the approved price of electricity production, plus an additional cost component of the justified costs incurred by the electricity seller in relation to the universal service and a reasonable operating profit.


The Competition Authority has the right to verify that the universal service price implemented by electricity sellers complies with requirements. As the universal service is provided by several electricity sellers, consumers may look for the most affordable service provider among all the sellers providing the universal service.


The Competition Authority exercises state supervision over competition, electricity, natural gas, district heating, mail, public water supply and sewerage as well as railways, aviation and ports.
 
 

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