New Electricity Exchange Price Increases, But Fixed Contracts Decrease: Seize the Opportunity!
HS’s calculator offers a unique feature that allows users to compare their own electricity contracts with various options available in the market. The price of electricity on the exchange has surged to unprecedented levels since the energy crisis last winter, reaching a high of 96.4 cents per kilowatt hour on Tuesday. However, the average price for the day was 35.7 cents per kilowatt hour. This increase is due to factors such as weak wind power production and an interruption in electricity production at the third unit of the Olkiluoto nuclear power plant, which is expected to resume production on Tuesday afternoon according to TVO’s estimate.
The cost of electricity on the exchange has been consistently higher than at the beginning of the year, 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 through the Nordpool electricity exchange and can sometimes even be negative. Companies have been able to secure electricity at lower prices by scheduling their use during favorable hours, which has proven particularly beneficial for exchange-traded companies during windless winter days when stock exchange electricity prices tend to rise temporarily.
However, with a sudden interruption in Olkiluoto 3’s electricity production, this trend has intensified considerably, causing a steep increase in prices that could impact consumers significantly. To help navigate these changes and make informed decisions about their energy usage and contracts, HS’s calculator provides valuable insights into current market conditions and contract options available to users. A fixed transfer price to your network company and electricity tax are always paid for consumption regardless of contract type, making it essential for consumers to carefully consider their choices when comparing options using this tool or any other means available within their financial resources and preferences.