Energy|According to Pekka Salomaa of the energy industry, you have to be on your toes regarding the price of electricity on the exchange even after Thursday.
The summary is made by artificial intelligence and checked by a human.
The price of electricity on the exchange will jump high on Thursday due to the lack of wind and limited transmission capacity.
Olkiluoto’s second reactor and Loviisa’s first unit are also out of use.
According to Nordpool, the price of electricity on the exchange reaches its peak on Thursday at eight in the evening, when it costs almost 50 cents per kilowatt hour.
The situation may continue to be challenging as long as the nuclear power units are out of use and Sweden’s connections are limited.
Olkiluoton the nuclear power plant’s second reactor is under repair. Unit 1 of the Loviisa nuclear power plant is under maintenance. The transmission capacity between Northern Finland and Sweden is currently being limited due to the construction works of the substation and power line.
Here are a number of reasons why the price of stock exchange electricity will rise exceptionally high on Thursday. State gas and energy company Gasum already warned about it on Tuesday.
Thursday is shaping up to be a fairly windless day as well. Therefore, the production of wind turbines may be low on Thursday.
“The temporary withdrawal of Olkiluoto 2 from production has not yet been particularly reflected in the price of electricity on the stock market, because the amount of wind power has been large until now,” says the director responsible for the electricity market of the energy industry Pekka Salomaa.
“Based on the forecasts, however, it seems that the wind is calming down towards Thursday.”
Electronic exchange According to Nordpool, the price of electricity on the stock exchange will jump to 18.16 cents per kilowatt hour on Thursday morning from 9 to 10 a.m. including VAT. Even in the wee hours of the morning, the price hovers around zero.
The price of electricity on the stock market will be higher than before at six o’clock in the evening. Then the price is 31.38 cents per kilowatt hour.
The price peak falls between eight and nine in the evening, when the price of electricity on the exchange is almost 50 cents per kilowatt hour. The price is really high. The last time the corresponding hourly price was seen was on Monday, May 13.
Based on the price data published by Nordpool, the price of electricity on the exchange is still 13.10 cents per kilowatt hour even in the last hour of Thursday. The average price of stock electricity during the day is 14.53 cents per kilowatt hour.
The Power of Industry (TVO) announced on Monday generator failurewhich is why the production of Olkiluoto 2 is currently at a standstill until September 29.
According to Fingrid’s estimate, transmission capacity restrictions due to maintenance and construction work between Finland and Sweden will end in the middle of October.
According to Salomaa, with regard to the price of electricity on the exchange, for these reasons, you have to be on your toes even after Thursday.
“As long as the two nuclear power units are out of action and Sweden’s connections are limited, the price of electricity can rise high from time to time. Of course, the situation is made easier by the fact that the autumn has so far been moderately warm.”
Exchange electricity has been quite affordable even in September, as the average price for the month is about 5 cents per kilowatt hour.
In July and August, prices were historically cheap.
The average price including VAT in July was 2.08 cents per kilowatt hour, and in August the price was only 1.55 cents per kilowatt hour. At that time, 24 percent VAT was still paid on electricity, in September the VAT rose to 25.5 percent.
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