Exchange electricity costs an average of 9 cents per kilowatt-hour including VAT on Tuesday.
Exchange electricity will be clearly cheaper on Tuesday compared to the peak prices of the past few days. Electricity costs about 9 cents including VAT. Tuesday's price is the second cheapest of the year so far. In January, electricity has been cheaper than this only on the first day of the year, when electricity, including VAT, cost about 5.6 cents.
The most expensive electricity is between 19 and 20, when the price rises to around 16.6 cents.
The decreasing prices on Tuesday are due to the growing wind power production. According to the grid company Fingrid's forecast, the wind turbines will produce electricity with a power of more than 5,000 megawatts on Tuesday morning. It is by far the highest reading of the current year.
For example, on the electricity price record day on Friday, the wind turbines produced electricity at their peak with a power of about 1700 megawatts. The total capacity used in the forecast is 6,715 megawatts.
In January exchange electricity has been exceptionally expensive so far. During the first 9 days of the month, electricity, including VAT, has cost almost 26 cents per kilowatt hour. That's a really steep price.
In the 2000s, the average monthly price has been higher only in August, December and September of 2022.
The average price for January was raised last Friday, when electricity cost an average of 1.1 euros per kilowatt hour. At its highest, the price was 2.35 euros per kilowatt hour.
On Friday, electricity was historically expensive. The price was more than 12 times compared to, for example, Tuesday.
Energy sector Energiateollisuus, which represents the companies, said on Monday that Friday's high prices were also a surprise for the industry itself.
According to it, a record amount of electricity was consumed on a weekly basis in Finland last week. This, in turn, was due to an exceptionally cold week.
According to the energy industry, electricity has mainly been produced at maximum power. However, due to faults in various production plants, production was out of use at most around 1,500 megawatts.
“Some of these plants were industrial and some district heat cogeneration plants, some were condensing power plants. There is no common reason for the fact that there were more faults than usual on Thursday and Friday. The plants that were out of production were plants of different owners, and they used different fuels,” the Energy Industry press release reads.
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