Analyzing Weekly Electricity Trends: Unraveling Wednesday Peaks and Market Dynamics

On Wednesdays, the electricity prices on the exchange surpass 22 cents per kilowatt-hour, making it the most expensive day of the week. However, there’s some relief in sight as prices are expected to slightly decrease on Independence Day compared to the recent peak levels.

The peak cost occurs between 6 and 7 p.m. on Wednesdays, reaching approximately 22 cents per kilowatt-hour, inclusive of taxes. Notably, during the Linna celebrations, this cost peaks further due to events like the airing of Yle’s “Towards the Linna Celebrations, Part 2” around 18:11 on Wednesdays.

To avoid the exorbitant prices of Monday and Tuesday, Wednesdays emerge as a more cost-effective day. On Monday, the highest cost for exchange electricity, including taxes, was just below 33 cents per kilowatt-hour. Meanwhile, Tuesday saw prices exceeding 41 cents per kilowatt-hour after 9 a.m.

The most economical period for electricity is consistently the night between Tuesday and Wednesday, with costs dipping to just over 12 cents per kilowatt-hour after 3 a.m. The taxable average price of electricity on Wednesdays is around 16.5 cents per kilowatt-hour.

December has marked a surge in exchange electricity prices, with the average taxable price surpassing 16 cents per kilowatt-hour. In comparison, November averaged 8.6 cents, and October recorded 4.7 cents per kilowatt-hour.

Attributed to severe frosts and reduced wind power production, the recent high prices persist. Wind power is not expected to provide significant relief on Wednesdays, with Fingrid’s forecast projecting an average output of just under 900 megawatts. This falls short given the total wind power capacity in the forecast stands at 6,445 megawatts.