Expect low electricity prices in spring and summer.

Electricity Prices in Finland Drop Close to Zero due to Spring Floods and Other Factors, Forecasts Point to Continued Decrease in Coming Months

Last May, the price of electricity in Finland dropped close to zero or even below zero on many days. This trend was influenced by several factors, including spring floods, sunny weather, and strong winds. These factors caused excess electricity production at a loss, leading to prices dropping. While floods are already occurring in Southern Finland, the major hydropower plants in the north typically experience flooding in May.

The fluctuation in electricity prices is also influenced by other factors such as maintenance at nuclear power plants, strikes in industries that reduce electricity demand, and weather conditions impacting renewable energy production. Despite fears that maintenance at the Olkiluoto nuclear power plant would raise electricity prices, prices have remained relatively low.

Looking ahead, futures in the electricity market suggest that price trends will continue to decrease in the coming months. Nordic regional price futures for the second and third quarters of the year decreased last week, indicating a positive outlook for consumers and producers alike. Fixed-term contracts for electricity have also become more popular, with short contracts of only three months available at competitive prices.

Overall, despite the variability in electricity prices due to factors like floods and weather conditions, market analysis suggests that prices will continue to decrease in the coming months. This news is likely to be welcomed by both consumers and producers who rely on a stable electricity market for their daily operations.

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