Electricity exchange prices experienced significant fluctuations throughout the week

Energy Market Fluctuations in Finland: The Battle of Supply and Demand

The upcoming summer may see electricity price fluctuations in neighboring countries, leading to fluctuations in Finland’s electricity market. This week, consumers who signed a stock exchange electricity contract experienced a double-edged sword. On Monday, the price of stock exchange electricity, including value-added tax, rose to almost 50 cents per kilowatt-hour, compared to mostly negative prices over the weekend. Sunday afternoons saw the cheapest electricity prices, dropping to minus 1.51 cents per kilowatt-hour due to higher supply than demand.

The annual maintenance of the Olkiluoto nuclear power plant’s triple reactor was completed on Thursday, leading to the resumption of electricity production. With hydropower and wind power acting as key contributors to affordable electricity prices over the weekend. CEO of Energiateollisuus ry Jukka Leskelä reported that hydropower was producing at near-full capacity, with wind power also limiting production on Saturday.

Leskelä noted that Finland was on the export side of cheap electricity, largely driven by excess supply and lower weekend consumption. However, price spikes and limited electricity supply were observed on Monday due to maintenance at Olkiluoto’s units, restricted wind power production, and limited electricity imports from neighboring countries. An ongoing fault in the Estlink 2 electricity transmission connection between Finland and Estonia is expected to result in continued maintenance and restrictions on electricity transmission throughout the summer

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