Under free market conditions, there should be a correlation between price and demand. In the electricity market, it is not possible to shift all consumption to hours that are more favourable. Therefore, free market rules do not fully apply to the electricity exchange market. Household consumers have a better ability to shift their energy consumption. At the same time, a large number of household consumers have fixed-price contracts and are therefore not affected by the sharp price changes, so

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... can be said that they do not actively participate in the stock market. They do not need to shift their electricity consumption. High-consumption industrial companies have very low possibilities at all to react to the stock market changes. The aim of this study is to find out how much electricity consumption has been able to shift in a situation where electricity prices in Estonian were extremely high and volatile. Electricity prices are usually lower at night-time, so it can be assumed that consumption will be shifted to night-time if possible. Examining the change in the distribution of night- and daytime electrical consumption over the years, it is possible to analyse the effect of energy prices on consumer behaviour during periods of high volatility.