Electricity price forecast for the coming months
The price information is based on NASDAQ Commodities stock exchange data and also includes the mandatory 24% value added tax in Finland.
Electricity futures 2024
Forecasts priced by the electricity futures market for the price of electricity in the coming months. Prices are indicated in kilowatt hours (kWh).
As a consumer of spot price electricity, it is easiest to follow short-term electricity price changes in the joint Nordic Nord Pool electricity exchange.
In order to make fixed-price electricity contracts possible, the market trades electricity with derivatives called futures. Power companies and other traders trade futures on the NASDAQ Commodities exchange, where spot prices are priced averaged monthly, quarterly and annually.
Electricity price forecast 2024 (kWh)
However, the The price of electricity is practically formed by the influence of several variables. The spot price, i.e. more popularly the price of electricity on the exchange, is affected above all by demand and supply. The cheapest electricity price on the stock exchange is often based on low demand for electricity, or widely available electricity produced with low production costs from renewable energy, such as hydropower or wind power.
In winter, the electricity consumption is high and the amount of wind power on the market is quite low due to the frost. The spot price of electricity is not completely identical in the Nordic countries either. This is because electricity transfer affects the regional spot price.
Where, for example, Sweden and Norway have several electricity price ranges due to their weaker electricity transmission network, there is only one in Finland, which is known for its strong transmission network.
Electricity price forecast - Would you like to know more?
Many electricity companies publish information on the electricity market situation on their websites. A good example is, for example, Fortum, whose market review provides comprehensive, easily digestible information.