The price of electricity jumps to autumn record highs on Wednesday – See the cheapest and most expensive hours of the day here

The price of electricity on the exchange will rise high on Wednesday, according to the price data published by the electricity exchange Nord Pool.

The highest price is between 8 and 9 in the morning, when exchange electricity costs 62 cents per kilowatt hour. The price spike is quite a lot: the last time electricity on the exchange was just as expensive at the beginning of October.

Fortunately for exchange electricity customers, the price of electricity quickly decreases towards the evening. However, the price remains at more than 20 cents per kilowatt hour until the early afternoon. At 4 p.m., the price already drops to less than ten cents per kilowatt-hour, and from 6 p.m. onwards, it already drops to less than four cents.

In the figure, the electricity value added tax (25.5%) is taken into account in the price. In addition to the market price and value added tax, the final electricity price paid by the consumer includes the margin charged by the electricity company, a possible fixed monthly fee and the electricity transfer fee. They vary from contract to contract.

The price fluctuation of exchange electricity is mainly explained by weather conditions and the demand and supply of electricity in the Nordic electricity exchange Nord Pool. For Wednesday, severe frost has been promised in Finland, especially in the northern parts of the country, and relatively little wind.