Thursday, June 20, 2024

The second lowest electricity price of all time on Sunday


Illustrations of electricity and power cables. Power cord on Ski. Photo: Annika Byrde / NTB

Of NTB | 08.06.2024 19:53:05

Economy and business: Sunday’s price is also the second lowest ever. It was on 16 July 2023 that the price was all the way down to minus 70 øre in the cheapest hour when the bottom fell out of the market, writes Europower.

It is consumers in price areas NO1 (Eastern Norway) and NO2 (Sunnhordland to Buskerud) who will receive these almost record-low prices. Appropriately enough, this is happening after the summer heat has taken a break and many have turned the heating back on indoors.

For four hours on Sunday, the price will remain at minus 29 øre/kWh or lower, but consumers will still have to pay network rent and fees.

Assuming that all production in the cheapest hours is sold at the spot price, the power producers in the two price ranges will have to pay approximately NOK two million to deliver electricity to customers from 2 p.m., according to Europower.

(© NTB)


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