Electricity prices Monday, 2 Dec 2024

Today's and Tomorrow's Electricity Prices in Sweden

December 2, 2024, presents an unusual situation in the electricity market in Sweden. During the early morning hours, electricity prices have been negative, which means that consumers practically get paid to use electricity. This is a rare but not entirely unique occurrence, often due to an abundance of wind power combined with low demand. For those who can control their electricity consumption, this is a golden opportunity to save money or even earn from their electricity usage.

Free Electricity Usage During the Night

During the night, from midnight until 05:00, electricity prices have been negative, making it free to take a bath, shower, charge the car, or play games. The cheapest hour was between 03:00 and 03:59, with an electricity price of -0.5766 öre per kWh. This means that a shower consuming 4 kWh would actually give you back 2 öre, and charging an electric car with 60 kWh would give you a refund of 34 öre.

Prices Rise During the Day

Starting from 06:00, electricity prices begin to rise and peak during the evening. The most expensive hour during the day is between 19:00 and 19:59, with a price of 29.1575 öre per kWh. This means that a shower during this hour would cost 1 krona and 17 öre, while charging an electric car would cost 17 kronor and 49 öre.

Tomorrow's Forecast

For December 3, 2024, electricity prices are expected to be significantly higher, with a peak of 106.1237 öre per kWh between 17:00 and 17:59. This means that a shower during this hour would cost 4 kronor and 25 öre, and charging an electric car would cost a whopping 63 kronor and 67 öre.

Tips for Optimizing Your Electricity Consumption

Considering the fluctuating electricity prices, it is wise to plan electricity-intensive activities such as laundry, dishes, or car charging during the hours when electricity is cheapest. During the early morning hours today, you could actually earn money by using electricity. For tomorrow, try to avoid using a lot of electricity during the evening hours when prices are at their highest.

Interesting Facts about Electricity Prices

If we had the lowest electricity prices throughout the year, it would have cost -103 kronor to heat a medium-sized house of 160 square meters. This is, of course, a theoretical figure, but it demonstrates the potential for savings with low electricity prices. On the other hand, if the highest electricity prices had applied year-round, the cost of heating the same house would have been 19,102 kronor.

The Role of Electricity Companies in Electricity Prices

Electricity prices are influenced by many factors, including weather conditions, supply and demand, as well as regulations and taxes. Electricity companies play a crucial role in balancing these factors to ensure a stable and reliable electricity supply. By investing in renewable energy and more efficient distribution networks, electricity companies can help keep prices down in the long term.