• Wed. Dec 6th, 2023

New Opportunities in the Energy Market: Electricity Exchange Prices on the Rise, Fixed Contract Prices on the Decline


Nov 20, 2023

With HS’s calculator, you can compare your own electricity contract with other options available on the exchange. The price of electricity on the exchange has been rising to levels not seen since the energy crisis last winter. On Tuesday, the price reached a high of 96.4 cents per kilowatt hour, but the average price for the day was 35.7 cents per kilowatt hour. This increase is due to weak wind power production and an interruption in electricity production at the third unit of the Olkiluoto nuclear power plant. According to TVO’s estimate, electricity production will resume at the Olkiluoto nuclear power plant on Tuesday afternoon.

In November, exchange electricity prices were higher compared to January, with an average price of 9.4 cents per kilowatt hour in November compared to 4.7 cents in October and 4.1 cents in September. The price of electricity on the exchange is determined hourly by Nordpool and can sometimes even be negative. Companies have been able to obtain electricity at a significantly lower price by scheduling their use during favorable hours.

The price of electricity on the exchange is expected to drop significantly on Wednesday, with fixed-price contracts being even slightly cheaper than they were in November when HS last compared contracts. Contracts with different durations also offer varying prices for electricity, and consumers can terminate existing contracts as well as exchange them with a two-week notice period.

By scheduling their use during favorable hours, exchange-traded electricity companies have been able to obtain electricity at a significantly lower cost than other contract types during the beginning of the year. However, windless winter days may cause spikes in stock exchange electricity prices from time to time, and now an interruption in Olkiluoto 3’s power production has caused an exceptionally steep spike in prices due to increased demand for energy sources other than wind or solar power that are currently unavailable due to maintenance or repairs at other plants like Loviisa A and Paskovskaya NPPs respectively which were taken offline recently . With this calculator below you can compare your own electric contract with available options: it takes into account consumption charges such as network transfer fee and electrical tax but not any additional fees or taxes levied by local authorities or utility companies for specific locations or services provided

Leave a Reply