HS’s calculator allows you to compare your own contract with other available electricity options on the exchange. The price of electricity on the exchange has reached unprecedented levels due to a combination of weak wind power production and the interruption of electricity production at the Olkiluoto nuclear power plant. On Tuesday, the price of electricity on the exchange reached as high as 96.4 cents per kilowatt hour, but at an average price of 35.7 cents per kilowatt hour for the day.
In November, exchange 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 price of electricity on the exchange is determined hourly in the electricity exchange Nordpool and can sometimes even be negative. Companies have been able to obtain electricity at a significantly lower price by scheduling the use of electricity for favorable hours.
The price of electricity on the exchange is expected to drop significantly on Wednesday, with fixed-price contracts being slightly cheaper than they were in November when HS last compared contracts. Contracts with different time durations also offer varying prices for electricity, allowing consumers to choose what works best for their needs. Additionally, consumers have the option to terminate contracts valid for the time being or exchange them with a two-week notice period if they find better options elsewhere.
In particular, 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. However, now that windless winter days are becoming more common and there is an interruption in Olkiluoto 3’s power production, prices have spiked exceptionally steeply.
With HS’s calculator below, you can easily compare your own contract with other available options and make informed decisions about your energy needs.
It’s important to note that a fixed transfer price will always be paid to your network company and taxes are not taken into account when comparing prices using this calculator.
Overall, it’s crucial for consumers to stay informed about market conditions and pricing trends so they can make smart choices about their energy consumption habits and budget accordingly.