Maybe it's time to pay the electricity bill again, for April this time. During May Day, the price plummets, to 27 öre per kilowatt hour (kWh) in the north and 45 öre in the far south.

All in all, this means that the average April price in southern Sweden (electricity area 4) landed at SEK 74 per kWh, according to the electricity exchange Nord Pool. This is the lowest price of electricity since July 2021.

Minor differences

In electricity area 3, northern Götaland and Svealand, the April price was 69 öre/kWh, the lowest since October 2021. But in Norrland, price areas 1 and 2, April was not at all a particularly cheap month, historically speaking. The average price of 66 öre is rather high for being there.

In recent months, price differentials between north and south have narrowed, partly as an effect of better transmission capacity in the electricity grids, but also as a result of lower prices on the continent. Thus, the contagion effect on southern Sweden will be smaller.

The monthly price is for the great mass of households the most essential. More than half of Swedes have variable electricity prices linked to the average price over a month.

Looks favorable

The price picture for the rest of the year also looks relatively favourable, if the trade in electricity contracts for the future is to be believed. At present, these so-called futures contracts indicate that the price of electricity in the Nordic region is just over 50 öre in the third quarter and 85-90 öre in the fourth quarter of this year, with some variations between different regions.

On top of Nord Pool's market price, the electricity companies' mark-up, electricity tax, VAT and grid fee of in the range of SEK 1–1.50 per kWh are added.

In the clip below you get four tips on how to reduce electricity prices at home:

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Get four simple tips on how to reduce the cost of electricity at home. Photo: Fredrik Sandberg/TT & Lars Hedberg/TT