Share

February 19, 2020 The operator Nord Pool, which manages electricity distribution in some northern European countries, has released data for Finland, where for a few hours last Monday the cost for electricity went below zero: minus 20 cents euros per kWh.

The president of the Finnish Energy Authority, Antti Paananen, explained that the cause of the phenomenon was the greater production of electricity than consumption.

Finland produces large quantities of energy from renewable sources, mostly with wind turbines, and a strong storm over the Atlantic Ocean has caused a surge in production. At the same time, due to a mild winter, the energy consumption for heating is low. In addition, the strike by workers in the timber industry, one of the most important in the Nordic country, with the highest consumption of electricity, contributed to the drop in demand.

The Finnish Energy Authority noted that negative electricity prices have been reported in the past in Denmark and Germany, but in the order of minus 4-6 cents per kWh. In Finland, on the other hand, the negative price for electricity, and the index so high, is recorded for the first time.