The morning coffee and bath you took before going to work on Tuesday was more expensive than usual. The price of summer electricity will probably be higher than ever.
Because the power crisis is still a long way off. The hour between 8 and 9 on Tuesday is by far the most expensive single hour in April, with NOK 2.73 electricity per kilowatt hour excluding phase rent and charges. Power transfer The previous month’s peak was NOK 2.62 from 8 to 9 April 11, according to North Pool data.
– We’ve finished the holiday and are coming back a little more to everyday life with consistently high prices. Dor Ryer Lillyholt, head of analysis at Value Insight, explains that prices are still high due to the war in Ukraine and rising gas and coal prices.
– Higher summer prices
At Easter, Norway imported a good deal, but now electricity is mostly exported, he adds. With little snowfall in the mountains, war and high coal and gas prices, we are ready to get summer prices that are not always there.
– It is planned to be the maximum you have ever seen. Prices are expected to be 1.5 to two kroner per kWh in southern Norway this summer – excluding taxes. But consumption will decrease. Your electricity bills will go down, but there will still be some electricity support at this level, says Lillyholt.
According to Lillyholt, last Sunday’s price in Norway was 1.5 kroner per kWh, although much lower than it is today. This Sunday, Norway imported more electricity.
Sunday trick
Since solar power is high, the price of electricity during the holidays is cheaper during the day than at night.
– Sunday in the middle of the day has the lowest price of the week on average, says Lillyholt.
See also: How much does electricity cost you?
So, it may be wise not only to fill the tank of the diesel car on Sunday but also to charge the battery of the electric car.
– As is the case now, it is not possible to fully replenish water reservoirs when prices are so high in Europe, with very little snowfall and very attractive exports. Lillyholt says manufacturers want to sell their products as expensive as possible, and explains that today’s prices are higher than they expected later this year. Therefore, manufacturers are currently suspending rather than exporting electricity.
– Being a producer is not easy either. When consumers want to get electricity at the lowest possible price, you want to produce at the highest price. But Lilleholt says the market ensures cheaper production at all times and electricity flows from lower-priced areas to more expensive areas.
Tipper boss Edgeir Aksnes showed no mercy to power producers.
– Power generators are greedy and they calculate that there will be higher prices in the future. And because prices go up at the right time, they are well paid all the time, and most power generators are owned by state and Norwegian municipalities, says Agnes.
– Disposes of water
Aslak Øverås, information manager for Energy Energy, an organization that represents companies that produce, transport and distribute renewable energy, says manufacturers need to plan ahead.
– It stays year-round as power generators dispose of water in reservoirs. They should take into account that there is unusually little snowfall in the mountains and less rainfall in the spring. As an alternative to keeping the price higher now, the magazines will run out and may fetch even more when it comes back in the fall, says verås.
He points out that the market controls the flow of electricity across national borders – so far in April, Norway has actually imported more electricity than we exported.
– Some of our neighbors have more wind power, thus getting more variations in prices. அதிகverås says that when more wind blows, when prices fall sharply, we do not get that effect.
He points out that the price of electricity transfer can be followed by everyone North Pool.
– Power must go where prices are high to make the best use of resources. Moderate weather will reduce consumption. Verås says in view of the Ukraine war and the rise in gas and oil prices, the question is whether we are getting so much help from Europe in the current situation.
– What do you think about getting an unprecedented price of electricity this summer?
– Comfort is that we use significantly less electricity and can occasionally import wind power from our neighbors at lower prices, says Øverås.
Had there been no war in Ukraine, electricity prices would have begun to fall, according to Lilleholt, according to the head of the analysis.
Look at how much electricity prices have gone up this year
– The Department of Atomic Energy must find other alternatives to the large uranium supplies it receives from Russia. Lilleholt says Ukraine has large uranium reserves and is one of the most energy-intensive areas in Europe, and that Russia’s 60 percent of Germany’s energy needs are met by coal, gas and oil as a whole.
But after 2023, fortunately it looks a little brighter when it comes to electricity prices. In 2020, they were known to be exceptionally low, while they were very high last year.
– Significantly lower prices are expected after 2023. Then they are likely to return to normal, says Lillyholt.
Shipstead holds 15 percent of the tipper. VG is a wholly owned subsidiary of Shipstead Group. Some journalists at VG hold shares in Schibsted through the group’s stock savings program.
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