Electricity prices on the exchange have been steadily increasing since last winter, reaching a high of 96.4 cents per kilowatt hour on Tuesday. Despite an average price of 35.7 cents per kilowatt hour for the day, this increase is due to a combination of factors, including weak wind power production and the interruption of electricity production in the third unit of the Olkiluoto nuclear power plant. According to TVO’s estimate, electricity production will resume in the Olkiluoto nuclear power plant on Tuesday afternoon.
In November, exchange electricity was more expensive compared to the beginning of the year, with an average price of 9.4 cents per kilowatt hour in November. This is a significant increase from the average price of 4.7 cents in October and 4.1 cents in September. The price of electricity on the exchange is determined hourly in the electricity exchange Nordpool and can sometimes even be negative. However, companies have been able to obtain electricity at a significantly lower price by scheduling their use during favorable hours.
The calculator below allows you to compare your own contract with available options for electricity contracts ranging from one month to five years in length, as well as fixed transfer prices and network fees that are always paid based on consumption usage without taking them into account when comparing contracts.
Fixed-price contracts offer consumers an advantage over other contract types by providing stability and predictability for their energy costs during peak usage times or periods where demand is expected to be high.
It is important for consumers to be aware that different contract types offer varying prices for electricity usage based on their time durations and other factors such as network fees or fixed transfer prices.
As such, consumers may want to consider using scheduling tools or working with their energy provider to optimize their energy usage during favorable hours or negotiate better rates for longer-term contracts.
Overall, it is important for consumers to stay informed about changes in electricity pricing trends and take steps to ensure they are getting the best value for their energy needs while also being mindful of environmental impacts such as carbon emissions associated with different types of energy sources used by utility companies.