Electricity, Electricity Price | The price of electricity continues up, up and up: Over eight kroner on Tuesday
The price of gas has skyrocketed in recent days as a result of the conflict in Ukraine. Before the weekend, the price passed 200 euros per MWh for the first time in history, and on Monday morning it was traded for an incredible 320 (!) Euros. Prices have since fallen a good deal.
Also read: The price of gas is rising wildly – up to over 70 percent
But it’s not just the gas price that is high: the price of coal has also skyrocketed, reaching $ 400 per tonne. By comparison, the coal passed $ 200 for the first time last fall.
Extreme prices are back
Both are very important for the price of electricity in Europe, which in turn is helping to push up the price in Norway. This is done through price transmission via foreign cables to England, Germany, the Netherlands and Denmark – in addition to Sweden.
On Monday, the extreme price of electricity was back, and now Nordpool reports that the electricity price continues the opposite: On Tuesday, southern Norway will have to pay an average of 10 percent more for electricity on a Monday, but which is clearly the most expensive electricity of the year.
The average price will be 2.58 kroner without fees. The maximum price will be a little incredible 6.53 kroner without fees on the morning twig. If you add VAT, it will be 8.16 kroner per kWh!
On top of it all comes grid rent.
– A scary price level
Product manager for power, Karl Einar Svor, in Gudbrandsdal Energi is not optimistic about the time ahead:
– It is a frightening price level that we are witnessing in the future. We see that contracts for the second quarter for the Nordic region have increased from 44 to 130 MWh from 21 February until today. It is a little wind, low temperatures and gas that affect this, in addition to high prices for all types of fuels, he says to Nettavisen.
The price comes from printing on the grid, there is no electricity production to cover the whole of Norway’s needs, in addition to maximum exports.
Outside the price peak, the price stabilizes around 2 kroner, which is at a higher level on Monday.
The price in Norwegian kroner is kept down a bit compared to December, because electricity is sold in euros, and Norwegian kroner has strengthened by around 50 øre against the euro.
Central and northern Norway escape
While these are extreme prices in southern Norway, central and northern Norway continues with its consistently low prices of around 16-17 øre per kWh.
This means that in southern Norway on Tuesday morning they have to pay around 40 times more for electricity and the rest of the country.
Very high European prices
The high prices are related to the very high prices on the continent. Germany gets average prices of less than 5 kroner per kWh, with a price of 7 kroner.
The same price peak is obtained in Denmark, the Netherlands, Belgium, France and Austria.
Massive exports
The high prices ensure that power exports from Norway to abroad go almost too full.
During the first seven days of March, Norway has exported 50 percent more electricity net throughout February.