Wind power production has been quite low this week, which has increased the price of electricity on the exchange. According to the expert, consumers should be prepared for big price fluctuations in winter.
Exchange electricity the price has been at a clearly higher level this week than in recent weeks.
For example, on Thursday, the taxable average price of electricity will rise to more than 16 cents per kilowatt hour. The last time the daily average price was higher was at the end of August. At its highest, the price is over 24 cents per kilowatt hour on Thursday.
Also on Wednesday, electricity has been relatively expensive compared to recent weeks. The last time a similar average price of more than 13 cents was seen was in mid-September.
The background of the higher prices we see now is especially low wind power production, says the director responsible for the electricity market of Energy Industry Pekka Salomaa. The winds have been weak in a wide area outside of Finland as well.
“The production of wind power causes big fluctuations in the price of electricity, and even when we are living in this dark autumn, even solar power will not turn the situation around. Of course, nuclear power is operating comfortably,” he says.
According to the electricity grid company Fingrid, electricity has been produced by wind power during the current week with an average power of about 1,200 megawatts. The maximum capacity of wind power is approximately 6,400 megawatts.
For example, on Wednesday electricity was produced by wind power with an average of 460 megawatts.
To Saloma according to the electricity prices of the last few days, there is no reason to be depressed.
Based on the future prices, it seems that during the winter the price of electricity on the exchange will remain at a fairly moderate level. However, electricity users must be prepared for individual price spikes. The prices of the last few days can be considered as such.
Correspondingly, for example, in the first half of October, the taxed average price of stock exchange electricity even remained negative on several days.
“Today’s prices and previous even negative prices reflect what is ahead of us, that is, relatively significant price fluctuations,” says Salomaa.
Higher prices can be expected, for example, during periods of severe frost.
“Price fluctuation is to be expected, but it’s not a terrible danger if one hour is really expensive or one day is more expensive than average,” says Salomaa.
He reminds us that the consumers who benefit the most from price fluctuations are those who can schedule their electricity consumption for cheaper hours.
“I myself, for example, have been using an application for an electric car for a long time, which schedules charging for example at night,” he says.
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