Dramatic change in electricity prices on Thursday
On Thursday, electricity prices will be the lowest in a very long time. It shows recent figures from the power exchange NordPool. The reason lies primarily in weather and wind.
Between 10 and 17 tomorrow, the electricity price will be below 10 øre throughout the country. The bottom level is reached in the hour from 15-16 – then the price is 3.3 øre per. kilowatt hour.
Then they have fallen sharply since midnight (99 øre), while the day ends at a more «normal» 1.39 kroner / kWh.
Average prices for electricity (per day) below one kroner have hardly been registered in south-eastern Norway in the last six months. The price record is NOK 3.95 per. KWh to fees – are from 21.12.21.
Not since 31 July 2021 has the average price for a day been lower in southern Norway than it will be tomorrow – 51 øre.
The foreign cables send the price of electricity to the bottom
– This is primarily due to a lot of wind in Denmark, Sweden and Germany, and that we have less consumption because it is a public holiday, says Stina Johansen, communications manager at Nordpool.
– It was not pictures rash last time we had a holiday?
– It is supply and demand that govern from day to day, and now the consumption, and thus the demand, is lower, since we have higher temperatures. There will be more variation in prices in the future. With a lot of wind power production, the price will go down in periods, says Johansen.
And then there is the full speed of the controversial international connections, which recently got the main blame for high electricity prices:
– Then we import fully from Germany and Denmark. Plus we have had some rain in southern Norway, which also helps, says Johansen.
The average price is plummeting
In Southeastern and Western Norway, there will be an average price for electricity of 0.51 kroner per kilowatt hour (kWh) on Thursday and a maximum price of 1.38 kroner. Thursday’s average price per kWh is NOK 0.01 higher than Wednesday and NOK 0.23 lower than the same day the year before.
Read also: Cables are blamed for the price of electricity: – These are fundamental faults
Thursday’s average price per. kWh is 1.06 kroner lower than Wednesday.
The maximum price on Thursday of NOK 1.38 per kWh is the highest in the country and occurs between 9 pm and 10 pm. It is NOK 0.48 lower than Wednesday and NOK 0.83 higher than the same day the year before.
In addition to the spot price for electricity, there is a consumption tax (16.69 øre per kWh), a tax for Enova (1 øre per kWh) and any surcharges from the electricity companies. On top of it all, a 25 percent VAT is added, and for itself comes the grid rent.