Electricity Price Overview for Sweden: Analyses and Forecasts

Richard Andersson - Mon, 29 Apr 2024 - 09:02

Electricity prices

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Today's and Tomorrow's Electricity Prices: An Overview

Electricity prices in Sweden vary significantly throughout the day, affecting everything from household budgets to when we choose to run our dishwashers. Here is an analysis of the regional average electricity prices today, April 29, 2024, and a forecast for tomorrow.

Price Development Throughout the Day

Today, we have seen a significant fluctuation in electricity prices. During the early morning hours, prices were around 43 to 44 öre per kWh, then rose sharply during the morning to reach a peak of 104.28 öre per kWh between 8:00 PM and 8:59 PM. Prices then dropped back to a more moderate 57.35 öre at midnight.

Expected Prices for Tomorrow

For tomorrow, April 30, prices are expected to start at a similar level to today, at 48.17 öre at midnight. A gradual increase is predicted until the morning hours, reaching a peak of 83.82 öre between 8:00 AM and 8:59 AM. The afternoon seems to offer the lowest prices, with a bottom of 16.07 öre at 2:00 PM.

Economic Tips for Households

Understanding the dynamics of electricity prices can lead to significant savings. For example, taking a shower during the cheapest hour today costs only 43 öre, while a bath costs 64 öre. Charging an electric car during the same period would cost 6.48 SEK. During the most expensive hour, these costs increase to 6.25 SEK for a bath and a hefty 62.56 SEK to charge the car.

Long-Term Perspective

When comparing the lowest and highest annual electricity prices for heating a medium-sized house, costs can vary enormously - from 1,944 SEK to 18,770 SEK depending on price fluctuations.

Summary

Electricity prices in Sweden are constantly changing and are influenced by many factors such as weather, demand, and the availability of renewable energy. By keeping an eye on prices and planning energy consumption, households can achieve financial gains.

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Sweden's CPIF inflation

3,10 %

Sweden's policy rate

1.75 % -0.25%

Sweden's national debt

1 160 785 007 024KR

Electricity prices Monday, 29 Apr 2024