The price of electricity experienced a significant drop below the spike seen on Thursday. However, in the long-term forecast, it is expected that the price will begin to rise post-summer. Despite this, exchange electricity users can benefit from cheaper prices as the weekend progresses.
On Friday, the stock market price of electricity decreased to a level much lower than Thursday’s spike. Moving into Saturday, the hourly price remained affordable. According to Fingrid’s hourly price mobile application, the price of electricity on the stock market fell to 1.802 cents per kilowatt-hour on Saturday afternoon.
The application indicated that the cheapest price of electricity was at 3 PM on Saturday, at 1.65 cents per kilowatt-hour, while the most expensive price was at 7 PM, at 4.29 cents per kilowatt-hour. Exchange electricity had spiked on Thursday due to low wind power production, causing the price to surpass 49 cents per kilowatt-hour in the morning.
Looking ahead, electricity price futures suggest a decrease in May-June, followed by a steady increase as the weather cools down. Prices on the exchange have hovered around 6-8 cents per kilowatt-hour in February-May, with a slight drop to just over 5 cents in April. However, prices rose again on May Day due to maintenance work at nuclear power plants Olkiluoto 2 and Olkiluoto 3 and technical issues with Olkiluoto 3’s maintenance shutdown ending on May 8th and Olkiluoto