• Sat. Apr 20th, 2024

Unpredictable Electricity Prices in Finland: A Comprehensive Analysis of the Spring and Summer Seasons

BySamantha Jones

Apr 2, 2024
Anticipated affordable electricity prices for spring and summer

In May of 2020, electricity prices in Finland were close to zero or even below on many days. However, the current spring and summer prices are highly dependent on the weather. Electricity futures and short fixed-term contracts have become popular for consumers to forecast and manage their electricity costs.

Last year in May, the average taxable price of electricity was only 3.3 cents per kilowatt hour, with some days even seeing negative prices for extended periods due to increased power generation from hydroelectric plants caused by spring floods. While Southern Finland experiences early snow melts and floods, the big hydropower plants in the north typically see floods in May. The fluctuating flood situation combined with unpredictable weather makes it challenging to accurately predict electricity prices.

Despite maintenance on the Olkiluoto nuclear power plant’s triple reactor in March, electricity prices remained relatively low due to a decrease in consumption and lower demand caused by strikes in the forest and steel industries. However, this trend is expected to change as we approach summer when the regional price of electricity in Finland is expected to increase due to increased consumption and higher demand during peak hours.

The temporary closure of the Estlink2 connection between Finland and Estonia during summer is also expected to impact electricity prices as this connection is typically used to export electricity from Finland to Estonia. This variability in electricity prices during spring is not only influenced by flooding but also by weather conditions affecting wind and solar power generation. Overall, there are multiple factors contributing to fluctuations in electricity prices, making it necessary for consumers to stay informed and adaptable in their energy purchasing decisions.

In conclusion, while last year’s low electric

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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