Electricity prices Monday, 21 Oct 2024

Electricity Prices Today: Get Paid to Use Electricity

Today, Monday, October 21, 2024, is a historic day for electricity prices in Sweden. During the early morning hours, from midnight until 06:00, electricity prices have been negative. This means that consumers actually get paid to use electricity during these hours. It's a unique opportunity to, for example, charge your electric car, do the dishes, or take a long bath without any cost. Between 00:00 and 05:00, it's free to both bathe, shower, charge the car, and play games.

Morning and Forenoon Electricity Prices

During the forenoon, until 09:00, prices remain close to zero, making it still cost-effective to use electricity. At 09:00, the electricity price is exactly zero, meaning it's free to use electricity for household activities like showering or doing the dishes.

Afternoon and Evening: Low Costs

During the afternoon and evening, until 18:00, electricity prices remain low and negative, providing opportunities for cost-free or even paid energy consumption. It's an excellent time to take advantage of these hours for energy-demanding activities. At 19:00, the electricity price is once again near zero, offering continued financial benefits.

Tomorrow: Rising Electricity Prices

Tomorrow, October 22, 2024, we see a change in electricity prices. During the early morning hours, prices are still negative, but by 06:00 prices begin to rise. At 08:00, electricity prices peak at 13 cents per kWh. This means that using electricity becomes more expensive, especially during the morning and forenoon rush hours.

Curiosity: Getting Paid to Charge Your Car

During the cheapest hour today, between 03:00 and 04:00, it would cost -205 cents to charge an electric car consuming 60 kWh. This means that you actually get paid to charge the car, which is a rare opportunity. Similarly, taking a shower during this hour costs -13 cents, while a bath costs -20 cents.

Comparison with Most Expensive Hours

During the most expensive hour today, which occurs later in the day, it costs 76 cents to take a bath and 19 cents to do the dishes. Charging an electric car during this time costs 768 cents, highlighting the significant difference between the cheapest and most expensive hours of the day.

Annual Heating Cost at Lowest Price

If the lowest electricity price were to remain constant throughout the year, the cost to heat an average-sized house of 160 sqm would be -616 Swedish kronor. This is a thought-provoking comparison with the actual annual costs, which can amount to 2305 Swedish kronor under the most expensive conditions.

When electricity prices are so low or even negative, it's a perfect time to take advantage of these benefits with smart energy usage. Plan your energy-demanding activities during the cheapest hours to maximize savings.