Electricity Spot Price in Finland
Electricity Price in Finland
6,07 snt/kWh
(28-day average)
The spot price of electricity in Finland in different years (snt/kWh)
Let's take a look at how electricity prices have developed in Finland. We state the price in the unit MWh (1 MWh = 1000 kWh).
When we think about the 2000s, the price of electricity has been an average of €37/MWh. In 2000, the price was only €15/MWh. The biggest price spike was seen in 2010 – 2011, when the average price of electricity was €53.06/MWh.
In 2020, the stock exchange price of electricity was exceptionally low in the Nordic countries. The annual average was only €28/MWh. The main reason for the low electricity price was the high rainfall and exceptionally snowy weather in Norway.
The price of the electricity bill
The total price of electricity includes:
| ⚡The price of electricity |
| 〰️ The price of electricity transmission |
| 💶Taxes |
The price of electricity can either be fixed or follow the price of electricity on the exchange in Nordpool, in which case we talk about the exchange price of electricity or the spot price.
The spot price of electricity is determined by supply and demand on the electricity exchange. The spot price of electricity in Finland is usually lower at night and on weekends, when the use of electricity is less.
In order to ensure the lowest possible electricity bill, you should choose the cheapest electricity contract.
Nord Pool spot-price of electricity in different years (snt/mWh)
The spot price is defined by the electricity exchange - Nord Pool - according to the electricity spot price. The price of electricity on the exchange follows real-time market changes, such as demand and supply of electricity, production costs, and global energy prices.
The electricity spot price is Nord Pool's hourly wholesale price, which is determined 24 times a day. This dynamic price mechanism provides opportunities for active electricity market followers.
Electricity price development in 2022
In the light of history, the development of the price of electricity has seen its bottom line in 2022. The price of electricity has averaged up to €170/MWh, i.e. 17 cents/kWh. The price is many times compared to, for example, the "peak" of the early 2010s.
The average of the summer months has been as much as 24.6 cents/kWh. The reason for the high price was, among other things, a dry summer and economic sanctions against Russia.
In December 2022, electricity cost an average of 23.92 cents/kWh.
Electricity price kwh and mwh
Electricity Companies express the price of electricity in kilowatt-hours (kWh) or megawatt-hours (MWh). The price of electricity per kWh is the most important indicator for the consumer, as it tells how much electricity costs per unit used. The MWh price, on the other hand, is a more common measure, for example, in monitoring the price of electricity on the stock exchange.
We recommend that you always compare the market's current electricity contracts, to ensure the best deal. Electricity calculator helps you estimate the price of your electricity bill by entering your estimated annual consumption in kilowatt-hours (kWh).
FAQ
How The Electricity Prices Are Calculated?
The price of electricity consists of three main factors: the price of electrical energy, the price of electricity transmission and taxes. The price of electricity is determined by the market and can be fixed or vary according to the stock market price. The price of electricity transmission is determined by the electricity network company and is fixed. The most significant of the taxes is the electricity tax.
How do you protect yourself from rising electricity prices?
The first thing you should do is tender your own electricity contract. Other generally useful tips are getting an air source heat pump, reducing sauna use and using common sense. It's not worth keeping the lights on for nothing - or taking a shower for 15 minutes every day.
How to track the spot price?
You can monitor the price of electricity on the exchange directly from the website of the electricity companies, or through the electricity price monitoring system that we maintain.
Teemu Pesonen
Teemu Pesonen is one of the founding members of Sähkösopimukset.com and a platform technology professional with over 10 years of experience. His goal is to build the best comparison website for electricity contracts in Finland - not more than that.
EN 
FI 
SV