Electricity prices Wednesday, 30 Oct 2024

Electricity Prices in Sweden: Free Electricity at Night!

Today, on October 30, 2024, we have an unusual situation with negative electricity prices during the night. Between midnight and 07:00, consumers are essentially paid to use electricity. This is a fantastic opportunity for those who want to charge their electric cars, take a bath, or even play video games without worrying about the costs.

Detailed Electricity Prices for Today

During the early morning hours, electricity prices were at their lowest, with a negative cost of approximately -2.73 öre per kWh between 04:00 and 04:59. For those looking to maximize their energy savings, this is the perfect opportunity, for example, to charge an electric car. Charging 60 kWh would cost -164 öre, meaning you actually earn money by charging the car during this hour.

Electricity Prices During the Day

Throughout the day, electricity prices gradually rise. At 09:00, prices reached 16 öre per kWh and peaked at 25 öre per kWh between 18:00 and 18:59. This is the most expensive time of the day, meaning charging an electric car would cost 25 kronor.

Electricity Prices for Tomorrow

Tomorrow, on October 31, 2024, electricity prices are expected to rise further during the day. Prices start at 3 öre per kWh at midnight and peak at 42 öre per kWh between 08:00 and 08:59. This could result in higher costs for households using a lot of electricity during these hours.

Practical Tips for Saving Money

To take advantage of the low electricity prices, it is recommended to plan energy-intensive activities such as charging electric cars, doing dishes, or laundry during the cheapest hours. During the night, when electricity prices are negative, you can take a bath and actually earn 16 öre from it.

Fascinating Facts About Electricity Prices

If we had the lowest electricity prices throughout the year, it would cost -492 kronor to heat a medium-sized house of 160 sqm. It's a fascinating thought that one could be paid to heat their house for an entire year!

Electricity Prices and the Environment

The low electricity prices can be partly explained by a high production of renewable energy, especially wind power, leading to an excess of electricity. This is good news for the environment, as it means more people can use clean energy at a lower cost.

What Does This Mean for the Future?

This situation of negative electricity prices may become more common as renewable energy sources continue to expand. It's important for consumers to be aware of these changes and adjust their energy usage habits to take advantage of the economic and environmental benefits.