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Electricity prices soar as temperatures plummet

TT/The Local · 7 Jan 2010, 17:04

Published: 07 Jan 2010 17:04 GMT+01:00

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The price for a kilowatt hour (KwH) has risen sharply on the Nordpool power exchange, while Swedish state-owned national electrical grid operator Svenska Kraftnät is warning of a strain on the country’s energy resources.

On Monday, the kilowatt hour spot price was around 70 öre ($0.098) per KwH on the Nordpool exchange. By Friday, the price is expected to be be around 304 öre(KwH), the highest price of the year.

The sky-high prices have come as a blow to Swedes with variable-rate electricity agreements.

However, Sigge Eriksson, head of power provider Vattenfall’s private market division, told the TT news agency on Wednesday that customers shouldn’t focus too much on high spot prices for any specific day.

“In December we had higher prices and then we had this high point of 261 [öre/KwH], but the following day prices fell,” he said.

“I don’t have statistics for all of December, but the effect was that the average price ended up at around 50 öre.”

The long stretch of cold winter weather has also affected Sweden’s overall energy consumption.

On Thursday afternoon, the country used about 25,400 megawatt hours (MwH) of power.

Usage between 5pm and 6pm on Friday is expected to climb to 26,600 MwH, prompting warnings from Svenska Kraftnät about strains on Sweden’s power system.

The grid operator has already dipped into its reserves in order to ensure a margin of 1,000 MwH in case of an unforeseen event.

Story continues below…

“Tomorrow (Friday), the margin is going to shrink because of the high energy consumption, but we’re still a long way from an energy deficit,” Svenska Kraftnät spokesperson Maria Jäderberg told TT.

She said that, at the moment, there is no need for the grid operator to ask the parties with which it has energy contracts to lower their energy consumption.

TT/The Local (news@thelocal.se)

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Your comments about this article

15:57 January 8, 2010 by MichaelZWilliamson
Ah, it's getting colder.

Because of global warming.

So, if warmer makes it warmer, but also makes it colder, would making it colder make it colder, or warmer?

Time to go burn a few tires, methinks.
16:03 January 8, 2010 by Mb 65
I wonder if all the swedes who were against Nuclear Power will change their minds now. it's too late now as it takes about 19 years to build a new one.
17:04 January 8, 2010 by entry
The science is quite clear and the USA is entirely responsible for Global Warming.

(attached image not shown)

SOURCES: NCDC global temperatures, Law Dome & Mauna Loa CO2 levels, US postal charges, Andrew Dart.
19:00 January 8, 2010 by MichaelZWilliamson
Entry: There is no science--the Earth is currently 5-8 C BELOW normal--based on a 300 million year average, not the Creationist Nutjob, Earth-Started-in-1880 average the Warmerbators use. Polar caps are caused by polar continents or by polar oceans surrounded by land--we currently have both. Polar caps are abnormal throughout Earth's history. The Earth is going to get warmer, and is supposed to. The Alarmist End Of the World claims are based on a temperature LOWER than during the Viking Era, when nothing bad happened--in fact, it was a very beneficial time for humanity.

CO2 has been up to 20X higher than now with lower temperatures. CO2 is only relevant with sufficient PP, and the curve has plateaus. We're confortably on one such at the present and will stay there. However, plants greatly enjoy the CO2, which leads to more growth and more food. This also is beneficial.

NASA's recent survey shows that California, and by extension the green growing part of the US, since CA is half desert, is carbon neutral. Europe and China are responsible for CO2. But, luckily for you, CO2 is a good thing.

If you think it's a bad thing, I suggest you stop exhaling it. And, because of your statement, I will go outside and burn yet another tire, as I do every time some yaphead opens up. You want me to stop burning tires? Shut the @# up.
19:08 January 8, 2010 by entry
You must be having a hard time reading the graphic, perhaps the article and data tables will help you to understand the science better.

SOURCES: NCDC global temperatures, Law Dome & Mauna Loa CO2 levels, US postal charges, Andrew Dart.
19:52 January 8, 2010 by entry
@MZW If you read the news via the The Local front page and not in the News via The Local user forum images and links will not be displayed in comments...

Sources for my above post can be found at:

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