The reason for the falling price is extremely high water levels in the reservoirs – particularly in Norway – and warmer weather creating a surplus of electricity.
The prices are expected to land at around 35 öre/kWh, which will make it the cheapest spring since 2021, i.e. before the outbreak of the war in Ukraine, according to Bixia, which also expects the electricity prices to remain low even over the summer and into the autumn – potentially for most of 2025.
The expansion of solar and wind power in Europe also plays a crucial role for the spring electricity prices.
"As solar power starts to kick in, it has a direct major impact on electricity prices in Germany, and that spills over to us in Sweden", says Johan Sigvardsson, analyst at Bixia, in a press release.
Despite high fuel prices and global unrest, the electricity price trend continues downward.
"Generally, unrest and trade tariffs make prices rise. But our extremely well-filled water reservoirs and strong energy balance in the Nordic region mean that we are distancing ourselves from global prices", says Sigvardsson.
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