The average spot price for the month of September in electricity area three was SEK 228.63 per kilowatt hour in 2022. The forecast for the same month this year is down to 28.76 öre/kWh. In recent days, it has also been significantly cheaper than that – there have even been negative prices in all four electricity areas, according to elbruk.se.
Prices are still more expensive in electricity area four, where the forecast is 57.29 for September, but it is significantly cheaper than in 2022 when the average price was 241.67.
Favorable weather
The low price of electricity is due, among other things, to weather conditions.
"We have had a lot of rainfall and this means that hydropower producers can produce a lot. There has also been a high production of wind and solar power recently, says Emma Tronarp Trawén, Electricity Trading Manager at Eon.
In addition, the mild weather means that the need for heating is low.
"It also helps to hold back prices," Emma Tronarp Trawén said.
Less dependence on Russia
Since Russia's invasion of Ukraine, Europe has also made itself less dependent on Russian gas.
"The EU has set requirements for member states to have their own gas stocks as security, and everyone meets this by far. But the stocks are not so large that they cover an entire winter if it gets cold, she says.
So how long can we count on the low prices? It depends both on the weather and on Europe's supply of gas – see more in the video.