In February, the average price of electricity in southern Sweden (electricity area 4) was around one krona per kilowatt-hour (kWh). The monthly price has not been this high since the turn of the year 2022/2023.
The first days of March show a complete turnaround. And it is clear that the sun is now starting to play a more active role with clearly lower prices in the middle of the day, according to the pricing on the electricity exchange Nord Pool. On Sunday, negative prices were recorded during the hours when the sun is highest, but only in one electricity area, the one furthest south.
Increasing winds are also pushing down the price, as electricity production from wind power is going at high pressure. At the same time, warm weather is reducing consumption.
The average price on Sunday is around 2-3 öre/kWh throughout Sweden. On Monday, the price rises slightly, to a maximum of 12 öre/kWh on average in southern Sweden.
The sharply lower prices are coming in despite one of the nuclear reactors at Ringhals unexpectedly going to half speed on Friday - a stop that, according to the latest information from the electricity exchange, is expected to remain in place until at least March 14.
And the significantly lower prices are expected to hold. The electricity price contract for the second quarter is around 25 öre/kWh as an average across the Nordic region.
In addition to the exchange price, electricity tax, VAT, and grid fee of over one krona per kWh are added.
