• Wed. Nov 29th, 2023

Electricity Exchange Customers Brace for Substantial Price Hike on Tuesday


Nov 20, 2023

According to Risto Kinnunen, an expert at the energy service company Väre, the price of electricity on the exchange will rise on Tuesday, but drop again on Wednesday. This is due to the interruption of Olkiluoto 3’s electricity production, which covers approximately 14% of Finland’s electricity needs. The cause of the failure was revealed to be a faulty temperature measurement of the generator’s cooling system. TVO, the responsible company, estimates that electricity production in Olkiluoto’s triple unit will start again at noon on Tuesday.

Kinnunen also believes that the price of electricity on the stock market will drop on Wednesday due to the start of Olkiluoto 3’s production and an increase in wind power production. However, windless and colder weather is expected by the end of the week, causing fluctuations in hourly prices.

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