Friday is going to be really expensive for exchange electricity customers, when the average price of electricity rises to more than one euro per kilowatt hour.
Friday The record high exchange electricity prices also came as a surprise to the Energy Industry, says the CEO of the interest organization Jukka Leskelä.
“The situation is really tight between electricity demand and supply. Even small changes can throw the price quite a lot, but at least we were surprised that the prices would rise so high,” he says.
On Friday, exchange electricity is by far the most expensive during the entire 2020s. The average price of the day, including VAT, is 1.1 euros per kilowatt hour, and at its most expensive, the price rises to as much as 2.35 euros per kilowatt hour between 7 and 8 p.m.
“The prices reflect this week's extreme situation,” says Leskelä.
Last In the last few days, electricity consumption has risen to an exceptionally high level due to the intense frost period and has exceeded the previously estimated winter consumption peak by 700 megawatts.
As the frost period lengthens, more energy is needed for heating as the structures of the houses cool down, says Leskelä.
At the same time, power plants in Meri-Pori, Äänekoski and Helsinki's Vuosaari have developed faults that require repair, due to which about 1,000 megawatts are depleted from the electricity grid. According to the forecast, on Friday, Finnish wind power production is also decreasing slightly towards the evening, which will partly increase the price of electricity.
“The situation is really tight. It is essential that even in an extreme situation the electrical system can be kept in operation,” says Leskelä.
Network company On Thursday, Fingrid raised its readiness and urged Finns to limit the use of electricity in the hours of greatest consumption in the morning and evening. According to Fingrid, there is currently enough electricity, but the situation is nevertheless very sensitive to unexpected failures in the electricity system and therefore the situation can change quickly.
Friday is going to be really expensive for exchange electricity customers. Leskelä estimates that if you don't make changes to your own electricity use, the costs of one day can increase by several tens of euros.
It is clear that houses must be heated on Friday as well. Leskelä advises to steer consumption away from the most expensive hours, when electricity demand is at its highest. Although electricity is expensive throughout the day, there are also large price differences between hours.
“During the most expensive hours, you can click the heat down even with a hand game,” he says.
“Many electrically heated houses also have fireplaces. If possible, it's worth switching the heating away from electricity.”
A widow also reminds that on Friday it is worth thinking about whether it is necessary to heat the electric sauna and whether household chores that require electricity could be moved.
“All last winter we learned how to control and reduce the use of electricity. I believe that there is certainly a lot of know-how. It can have quite a big impact in terms of the fact that if the situation gets tight for one reason or another, for example due to some fault, then the situation will be resolved,” Leskelä sums up.
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