Energy | Exchange electricity is now expensive, the prices of fixed contracts have even decreased – such contracts are now available

Exchange electricity price rises to the level on Tuesdaywhich was last reached during the energy crisis last winter.

At its highest, on Tuesday, including taxes, electricity on the exchange costs as much as 96.4 cents per kilowatt hour, and the average price for the day is 35.7 cents per kilowatt hour.

The price of electricity is increased by weak wind power production and the interruption of electricity production in the third unit of the Olkiluoto nuclear power plant due to a fault detected in the turbine plant. According to TVO’s estimate, electricity production in Olkiluoto’s triple unit will start again in the early evening on Tuesday.

In November Exchange electricity has so far been more expensive than at the beginning of the year anyway. So far, it has paid an average of 9.4 cents per kilowatt hour in November. In October, the average price was 4.7 cents and in September 4.1 cents.

In exchange electricity, the price of electric energy paid by the consumer is determined hourly in the electricity exchange Nordpool. As a counterbalance to price spikes on windless freezing days, the price of electricity on the exchange can sometimes even be negative.

In particular, by scheduling the use of electricity for favorable hours, exchange-traded electricity companies have been able to obtain electricity at a significantly lower price than other contract types during the beginning of the year. The fact that on windless winter days the price of stock exchange electricity rises from time to time is not surprising. Now, however, the interruption of Olkiluoto 3’s electricity production makes the price spike exceptionally steep.

On Wednesday, the price of electricity on the exchange is already estimated to drop significantly.

Others there have been no changes in the prices of the contract types. The cheapest fixed-price electricity contracts are even slightly cheaper than at the beginning of November, when HS last compared contracts.

In the cheapest fixed-price contract, electricity now costs 8.6 cents per kilowatt hour, it turns out From the Energy Agency’s electricity price service. Both Hehku Energia and Vihreë älläenergia offer a two-year contract at this price.

If you want to protect the price of electricity for a shorter period, the contracts are more expensive. In the cheapest one-year contract, electricity costs about nine cents per kilowatt-hour, and in a half-year contract, 9.8 cents per kilowatt-hour. Both contracts are Hehku Energia’s.

In the cheapest in the contract valid for the time being, the price of electricity is now 8.5 cents per kilowatt hour. Hehku Energia and KSS Energia offer contracts at this price. In contracts valid for the time being, the company must inform the consumer of price changes at least one month in advance.

The consumer can terminate contracts valid for the time being as well as exchange electricity contracts with a two-week notice period. Fixed-term contracts, on the other hand, are very difficult to get rid of before the deadline expires.

There are also so-called flexible contracts available on the market, where the fixed kilowatt-hour price can be slightly cheaper than the prices mentioned above. In them, the timing of the use of electricity affects the final price either increasing or decreasing, depending on whether the use is timed during the cheap or expensive hours of the exchange electricity.

With the calculator below, you can compare your own electricity contract with the available options. A fixed transfer price to your network company and electricity tax are always paid for electricity according to consumption. They are not taken into account in the counter.