December 1, 2023 10:36 am

The price of electricity on the exchange has increased to levels not seen since the energy crisis last winter. On Tuesday, the price reached as high as 96.4 cents per kilowatt hour, with an average price of 35.7 cents for the day. This rise is due to weak wind power production and the interruption of electricity production in the third unit of the Olkiluoto nuclear power plant, which is expected to resume on Tuesday afternoon according to TVO’s estimate.

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, compared to 4.7 cents in October and 4.1 cents in September. The price of electricity on the exchange is determined hourly in the Nordpool electricity exchange and can sometimes even be negative. However, companies have been able to obtain electricity at a significantly lower price by scheduling their use for favorable hours.

The price of electricity on the exchange is expected to drop significantly on Wednesday, with contracts valid for different time durations offering varying prices for electricity. Consumers can also terminate their existing contracts or exchange them with a two-week notice period if they find better options. By using HS’s calculator tool, individuals can compare their own contract options with those available on the market before making a decision about which plan is best suited to their needs and budget constraints.

Overall, while fluctuations in wind power production and interruptions in power generation are common occurrences during winter months when demand for heating is high, this recent spike in electricity prices is largely due to factors beyond these variables that require attention from both consumers and providers alike.

When it comes to pricing options for energy consumption, HS offers several tools that help users make informed decisions about their energy usage habits and costs associated with them. One such tool is a calculator designed specifically for comparing different types of electrical contracts side by side so users can choose from what’s available based on their individual needs and preferences.

It’s important to note that when evaluating different contract options, other factors like transfer fees or taxes may come into play as well – but these will not be taken into account when using HS’s calculator tool.

As consumers continue to navigate through this period where energy prices have increased significantly due to various factors beyond our control (like windless days), HS encourages everyone who uses its platform or any other online resource related to electric utility services should remain vigilant about their consumption patterns and take advantage of any tools available that help them save money while keeping them informed about changes happening within their industry!

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