Electricity prices on the exchange have been on the rise since November, with an average price of 9.4 cents per kilowatt hour in November compared to 4.7 cents in October and 4.1 cents in September. This increase is due to a combination of factors, including weak wind power production and the interruption of electricity production at the Olkiluoto nuclear power plant’s third unit. The price of electricity on the exchange can fluctuate hourly, with even negative prices during certain times.
However, there are ways for consumers to compare their own contracts with available options and potentially secure better rates. For example, 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. Additionally, fixed transfer prices and electricity taxes are always paid based on consumption and are not taken into account when comparing contracts.
The price of electricity on the exchange is expected to drop significantly on Wednesday, with contracts becoming even cheaper than at the beginning of November when HS last compared them. Contracts with different time durations also offer varying prices for electricity, so it’s important for consumers to do their research and compare all their options before making a decision.