Energy|The average price of stock electricity on Saturday is about 11 cents per kilowatt hour, but there will also be much more expensive hours on Saturday.
Exchange electricity the price will see a sharp spike on Saturday. The price rises from 19:00 to 20:00, including VAT, to more than 37 cents per kilowatt hour. That’s a steep price for a Saturday.
In the electricity market, the price is determined by supply and demand. On weekends, the price of electricity on the stock exchange is often lower than on weekdays, because electricity consumption is less on a daily basis.
The average price of electricity on Saturday will be around 11.4 cents per kilowatt hour. Electricity is cheap until nine in the morning.
On Saturday night the price of electricity is increased by the low wind power production and the outage due to the rotor failure of the second unit of the Olkiluoto nuclear power plant.
OL2 produces about 9 percent of the electricity consumed in Finland. It is scheduled to start generating electricity again on Sunday.
“It looks like we’re on schedule,” says the communications manager of Teollisuuden voima (TVO), which is responsible for the power plant Johanna Aho.
According to Aho, the power plant is to be returned to the electricity grid with an output of approximately 725 megawatts.
A rotor failure has kept Olkiluoto’s second unit out of electricity production for almost a month. The cause of the rotor failure has not been determined. For this reason, the power plant is run at about 80 percent power for several months.
“The rotor is only now going to the equipment supplier’s factory, so it will take some time before the reason is found out,” says Aho.
Olkiluoto’s triple unit has also had to be run underpowered due to a fault that occurred on Thursday. On Friday, however, the unit has produced electricity at almost full capacity.
The annual maintenance of unit one of the Loviisa nuclear power plant ends on Saturday. It produces about five percent of the electricity consumed in Finland.
Exchange electricity has been quite expensive so far in October. Based on the first five, the monthly average price has risen to more than 16 cents per kilowatt hour. The average price for the whole year has so far been about 6 cents per kilowatt hour.
#Energy #sharp #spike #price #electricity #Saturday