Norwegian-based electricity company Kinect made a very costly mistake when it bid for electricity exchange Nord Pool. In practice, they ended up with an offer equivalent to half of Finland’s electricity consumption. the Reports E24.
The company has published Message on energy exchange About the case in which they wrote that as a result of an “internal system error,” they made a very large offer on the electricity market. At the same time, Nord Pool has been criticized for not double-checking the exciting offer. They respond that they cannot correct the mistake.
This mistake is likely to cost the company hundreds of millions of kroner tomorrow, according to the Finnish newspaper Helsingin Sanomat.
But some enjoy being wrong, too. Finnish electricity prices have fallen to a historically low level, minus NOK 5.85 per kilowatt hour. Since the Norwegian Nordic electricity region is strongly connected to the rest of the Nordic region, electricity will be cheap here as well.
In Tromsø, the average price is just over €24 per kilowatt hour, which is a great price as winter approaches.
– The whole of Sweden will enjoy it. As a result, Swedish prices fell a lot. There is surprisingly cheap electricity there tomorrow, and northern Norway will enjoy it too, says energy analyst Olaf Buttenen at Volt Power Analytics E24.
Here are tomorrow’s electricity prices:
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