Around 1.50 kronor per kilowatt-hour (kWh). That's how much electricity cost on average in southern Sweden (electricity area 4) last week. You have to go back to the week before Christmas two years ago when the electricity price debate was at its highest to find higher prices. Even in Svealand, the weekly price was at an unusually high level, just below 1.20 kronor/kWh, while Norrlanders only paid around 9-10 öre for electricity.
But now, several factors indicate that the winter won't be as bloody after all. Over the weekend, the price shock died out, and ahead of the coming week, windy and mild air will dominate in southern Sweden, as well as, importantly, in Germany. With better conditions for German electricity production, the risk of contagion with high prices in southern Sweden decreases.
The entire next week will be extremely windy in Germany, said Johan Sigvardsson, electricity analyst at the electricity trading company Bixia, to TT the other day.
Low on Monday
The prognosis holds.
Ahead of Monday's pricing on the electricity exchange Nord Pool, the weekend's trend continues. The daily price in electricity area 4 lands at 24 öre, 27 öre in electricity area 3, and 7-8 öre in the two northernmost electricity areas.
And in the slightly longer term, there are several factors that will dampen electricity prices overall over the winter, even if more price peaks are likely to come when the weather is unfavorable.
The water reservoirs in the Nordic countries are well-filled, the levels are higher than normal. Gas prices on the continent have fallen 15 percent since the beginning of December. Gas-produced electricity is an important component for pricing in, among other places, Germany.
Falling prices in sight
This is clearly visible in the expected price picture on Nasdaq's electricity exchange, which trades in electricity contracts for the future. The Nordic average electricity price for the first quarter of 2025 is now around 55 öre/kWh, which usually means a bit higher in southern Sweden and cheaper in the north.
For the full year 2025, the Nordic electricity price is at 33 öre/kWh, a decrease from 38 öre a month ago, according to the pricing on Nasdaq's electricity exchange.
In addition to the exchange prices, electricity retailers' markups, electricity tax, VAT, and grid fees of over one krona per kWh are added.
