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May 26, 2012
Swedish electricity prices hit all time high
Published: 30 Dec 10 10:52 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/31158/20101230/
The spot price for electricity in Sweden averaged 0.83 kronor ($0.12) per kWh in December, a record high since the deregulation of the electricity market in 1996, according to figures released by electricity supplier Telge Energi.
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The spot price, which peaked at 1.30 kronor per kWh in Lucia this weekend, is used as the basis for the calculation of variable electricity prices for households and businesses.
The average price for the whole of 2010 - 0.55 cents per kWh, is a full 40 percent above the average price recorded in 2009, according to the firm's figures.
The development of the futures market, which provides the basis for calculating fixed prices for electricity, has meant that it has become extremely expensive for consumers to fix prices, the firm's CEO John Öhnell argued in a statement.
Poorly refilled reservoirs, continuing problems with nuclear power generation and an average temperature which is seven degrees below normal, have placed upward pressure on electricity prices.
"The market is afraid of the weakness of hydrology and that the cold weather does not ease," Öhnell said.
Öhnell expects price pressures to wane in 2011, perhaps as early as January:
"Our assessment is that the price will be about 0.10 kronor lower than in December if the weather returns to normal temperatures," he said.
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Your comments about this article:
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My average cost per Kwh is 1.64kr and that is with a fixed price 3 year contract for electricity of 0.544 kr /Kwh not the.83 spot price
Depending how comfortable your shoes were, I may take a long walk through the park, or maybe to the center. Shortly after, I would probably try to contact you so I could return the shoes. So don't worry, if I end up in your shoes, I will try to return them.
The people in Northern Ireland who have not had any water for 12 days from a state owned company may disagree with you there
So bundle up folks...there is plenty left of the freezing temperatures.
It is difficult to discuss about the prices in different countries. I pay 0.45ct per kWh. It means 1.22 kronor per kWh. My month salary is 1850 Litas. In Your money it would be about 5000 kronor. I work in Automotive sector in stamping division. 1 kronor is about 0.37 Litas. So it is real case about electricity prices and salaries in Lithuania.
Happy New Year!
tomas (Lithuania)
"Really Borilla? Which government agency was sold off to private industry to create Enron?"
The state of California sold off its public electricity operations, not to Enron directly as Enron wasn't a utility operator. They were something far more useless: an energy trader. It's because of the privatization of the public infrastructure that companies like Enron were able to steal money from the public...by creating false shortages and then reselling that same electricity back to them at a 10x markup.
I'm all for a free-market but there are some things that simply do not make sense and are not in the public interest to privatize. Electricity is one of those. The public is expected to make these huge investments building the power grid and all of the underlying infrastructure so that some private corporation can come along later and make a bundle of money gouging the tax payers off the very system they already paid for? I'm shocked, for all of the socialist leanings of Sweden that they have a private energy company. Systemboladget they have to have government control but not the supply of electricity...uhh...makes perfect sense.
You are correct that privatization of electricity, and public utilities in general, is not good public policy, viz. SJ. The public finances the infrastructure, the private companies run it into the ground and skimp on repairs and drive costs higher and higher.
As for Systemboulaget, the greatest furor over government control seems to come from expats. Privatization of that perfectly well functioning operation would serve no purpose other than to drive up prices and fill the pockets of importers and their well-connected friends.
"The globull warming movement is a corrupt religion with millions of mindless followers."
But good ole illiterate southern dimwits like anticommie will continue to stick his head in the sand only coming out to kiss his photo of Sarah Palin
Global warming is science, not a religion. We have multiple datasets that all point to man-made climate change. It seems far more reasonable that any skepticism at this point is based on corporate interests.
@Borilla
"Privatization of that perfectly well functioning operation would serve no purpose other than to drive up prices and fill the pockets of importers and their well-connected friends."
I fail to see how prices could go any higher than they already are. My neighbor takes a trip to Germany once a month to load up on booze...because it's that much cheaper! My point wasn't that Systembolaget would function better if privatized (although I do believe that), but that it seems strange in a country where the alcohol market is so tightly controlled they don't regard a public good like electricity in the same manner. Personally, I would rather they focus on getting the electric grid functioning perfectly than the liquor stores...it appears to be a misplaced priority.
The maintenance and laying of the water mains pipes in Northern Ireland has been subcontracted out to private contractors in preparation for privatisation.
Those sub contractors have left the entire water distribution network at below standard.
About 60% of what has happened in Northern Ireland is due to damage and sub standard work by modern sub contractors.
On top of that large sections of the of the mains supply piping were laid 150 to 200 years ago when the water supply in Northern Ireland was owned by a private company. Some of those have turned out to have been made of wood instead of ceramic or metal. That was done to reduce costs.
- the best way to make profits is too create a mismatch between supply and demand not to efficiently match supply with demand.