Finland’s electricity consumption has risen to an all-time record level

Electricity consumption In Finland, it has risen to the highest level ever, says the grid company Fingrid.

The record reading, 15,279 megawatts, was measured on Thursday morning between 11:00 and 11:15.

What causes the consumption spike?

The reason for the wild electricity consumption is the intense freezing weather and the fact that the price of electricity has at the same time remained at a reasonable level in relation to the temperature.

“Therefore, consumption has not been flexible driven by the price. Rather the opposite,” says Fingrid’s head of unit Mikko Kuivaniemi.

A lot of electric boilers have also been built in Finland in recent years, which currently produce a significant amount of heat. That also increases electricity consumption.

Why is the price of electricity relatively cheap now?

“Wind power production has a significant impact on the price of electricity, and wind power is currently well in production. In the morning, the production was even a little higher than predicted,” says Kuivaniemi.

How will the situation develop in the coming days?

According to Kuivaniemi, wind power production will decrease significantly on Friday when the winds calm down. This is reflected in rising electricity prices.

At the same time, electricity consumption does not decrease when the freezing weather continues and the need for heat remains high.

The daily average price of exchange electricity will rise to 15.58 cents per kilowatt hour on Friday from 9.96 cents on Thursday. The average price in January has been 11.60 cents and in the previous 30 days 5.50 cents.

On Friday, electricity is the cheapest at 0:45 (6.27 cents) and the most expensive at 8:45 (25.10 cents).

Is there enough electricity?

There is currently plenty of electricity, and the electrical system is working normally.

However, Kuivaniemi urges to direct the use of electricity to more affordable hours if possible.

The previous electricity consumption record in Finland was ten years ago. In January 2016, consumption rose to 15,105 megawatts.

According to Fingrid, new electricity consumption records are still possible as the severe frost period continues.

Correction 8.1. 11:22 a.m.: The name of the head of Fingrid’s unit is Mikko Kuivaniemi, not Kuivalainen, as was erroneously claimed earlier in the story.

Correction 8.1. at 3:35 p.m.: Corrected the day of the week from Thursday to Friday in the paragraph dealing with the average price of stock exchange electricity.

Correction 8.1. 9:10 p.m.: Corrected electricity consumption record unit of measurement in megawatts.