TALLINN - The Anti-Corruption Select Committee of the Riigikogu (Estonian Parliament) will discuss the formation of electricity market rules, measures to mitigate manipulation risks, and supervision at its session on Monday.
The chairwoman of the select committee, Anastassia Kovalenko-Kõlvart, recalled that in 2022, when electricity prices last hit record highs, there was discussion about the need to review the electricity price formation system.
"Even back then, there was talk of the need to make the Nord Pool power exchange more transparent to better understand how the price of electricity is formed and to prevent situations where a producer might, for instance, offer less energy to the market than it can produce to sell that smaller amount at a higher price. No reform followed the discussion at that time, but now we are in a situation where the electricity price is reaching 400 euros per megawatt-hour, yet the issue of the power exchange's transparency has been pushed to the background," she noted.
Invited to the session are Evelin Pärn-Lee, Director General of the Competition Authority, and Marilin Tilkson, Head of the Energy Service; Erkki Sapp, a member of the management board of Elering AS; a representative from the Ministry of Climate; and Märt Ots, head of the Safety Investigation Bureau and former director general of the Competition Authority.
The session is scheduled to begin at 1:15 p.m.
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