A Negative Electricity Price Is Registered in Finland
OREANDA-NEWS. According to the data of the Nord Pool power exchange, in Finland a negative price for electricity was registered. The reason is mild winter and windy weather, which allows wind generators to work at full capacity.
“Monday went down in Finland’s history on the electricity market. For the first time, the price of electricity became negative and amounted to minus 20 eurocents per megawatt-hour,” the report of Nord Pool says.
This winter, in Finland record low electricity prices have been observed. So, in January a megawatt-hour cost 17 euros less than in 2019. A negative price means that energy companies lose at power production. However, end consumers will not notice a change in billing, primarily because of taxes included in the price of electricity and different terms of individual contracts. At the same time, the price is insignificantly decreasing even for household consumers.