Electricity prices are currently reaching levels of up to 6 kronor per kilowatt hour (kWh) in the evening in Germany, Denmark and several other parts of northern Europe - prices that are also affecting southern Sweden to some extent.
The reason is the high electricity consumption from air conditioners during the extreme summer heat that now prevails in large parts of Europe.
When Germany, which is dependent on wind power, experiences calm weather, the electricity deficit becomes significant.
According to Johan Sigvardsson, an analyst at electricity trading company Bixia, electricity production from renewable energy is expected to reach only around 3 GW on Tuesday evening when the sun sets, compared to electricity use of around 50 GW. The forecasts look even worse for Wednesday evening.
Then it's important to use all available electricity production, such as the many old German gas and coal-fired power plants. And they command high prices, notes Sigvardsson.
In southernmost Sweden, electricity area 4, the price of electricity rises to sometimes over 2.50 SEK/kWh on Tuesday evening.
