On Friday, the price of electricity on the stock market decreased to a level much lower than Thursday’s spike. Moving into Saturday, the hourly price remained affordable. According to Fingrid’s hourly price mobile application, the price of electricity on the stock market fell to 1.802 cents per kilowatt-hour on Saturday afternoon.
The cheapest price of electricity was at 3 PM on Saturday, at 1.65 cents per kilowatt-hour, while the most expensive price was at 7 PM, at 4.29 cents per kilowatt-hour. Exchange electricity had spiked on Thursday due to low wind power production, causing the price to surpass 49 cents per kilowatt-hour in the morning.
Looking ahead, electricity price futures suggest a decrease in May-June, followed by a steady increase as the weather cools down. Prices on the exchange have hovered around 6-8 cents per kilowatt-hour in February-May, with a slight drop to just over 5 cents in April. However, prices rose again on May Day due to maintenance work for nuclear power plants Olkiluoto 2 and Olkiluoto 3. These units are currently inactive and expected to resume electricity production after technical issues are resolved. The maintenance shutdown for Olkiluoto 2 began last Sunday and is anticipated to end on May 6th while Olkiluoto 3 is expected to resume electricity production on May 8th after ongoing maintenance work is completed.