The HS calculator allows you to compare your electricity contract with other options available on the market. Recently, the price of electricity on the exchange has reached unprecedented levels due to several factors. On Tuesday, the highest price recorded on the exchange was 96.4 cents per kilowatt hour, although the average price for the day was 35.7 cents per kilowatt hour. This increase is attributed to weak wind power production and an interruption in electricity production at the Olkiluoto nuclear power plant’s third unit. According to TVO’s estimates, electricity production at the Olkiluoto nuclear power plant will resume by Tuesday afternoon.
In November, exchange-traded electricity has been more expensive compared to the beginning of the year, with an average price of 9.4 cents per kilowatt hour in November. The average price was 4.7 cents in October and 4.1 cents in September. The prices of electricity on the exchange are determined hourly through Nordpool and can sometimes even be negative. Companies have been able to obtain electricity at significantly lower prices by scheduling their use during favorable hours.
The cost of electricity on the exchange is expected to decrease significantly on Wednesday, with fixed-price contracts being slightly cheaper than they were in early November when HS last compared contracts. Contracts with different durations also offer varying prices for electricity consumption. Consumers can terminate their current contracts and switch to a more favorable contract with a two-week notice period if they choose to do so.
Exchange-traded companies have been able to obtain electricity at significantly lower prices than other contract types during the beginning of this year by scheduling their use for favorable hours when windless winter days occur occasionally.
In conclusion, HS’s calculator can help you compare your own contract with available options before making a decision about your energy consumption needs.
Fixed transfer prices and taxes are always paid based on energy consumption usage and are not included in counter calculations when comparing different options using HS’s calculator.
It is essential to note that companies can obtain electricity at significantly lower prices by scheduling their use during favorable hours while using exchange-traded contracts during windless winter days may result in higher costs due to increased demand for power generation resources with limited availability.
It is advisable for consumers who want a more affordable option for their energy needs to consider switching contracts regularly or opting for flexible pricing plans that adjust based on energy consumption patterns and market fluctuations rather than relying solely on fixed pricing plans that may not reflect real-time changes in supply and demand dynamics accurately.