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

Today, on May 10, 2024, and tomorrow, on May 11, 2024, the electricity prices in Sweden exhibit a fascinating mix of extremely low and higher prices, offering unique opportunities for energy consumers.

Unique Opportunities: Getting Paid to Consume Energy

In the early morning hours today, something unusual was observed in the electricity prices – they actually went below zero. Between 02:00 and 04:59, the electricity prices were negative, meaning consumers were paid to consume electricity. Specifically, at 04:00, the price dropped as low as -0.6893 öre per kWh.

Optimal Times for Energy Consumption

For those planning their energy usage, it can be economically advantageous to, for example, charge an electric car, take a bath, or do the dishes during these hours. For instance, charging an electric car during the cheapest hour today would cost -63 öre for 60 kWh, meaning you actually earn money by charging the car.

Price Increases During Evening Hours

Later in the day, prices steadily rise, peaking during the evening hours. At 20:00 today, the electricity price reached a peak of 78.2010 öre per kWh. Performing energy-intensive activities during these times is significantly more expensive. For example, it costs 4692 öre to charge an electric car during the most expensive hour.

Tomorrow's Price Forecast

Tomorrow, a stable increase in electricity prices is predicted during the early morning hours, with prices rising from 29.2330 öre at midnight to 44.8060 öre at 05:00. However, in the afternoon, we once again see negative prices from 12:00 to 15:59, offering another opportunity to save or even earn money on electricity usage.

Economic Tips

For those looking to maximize their economy based on electricity prices, consider scheduling energy-intensive household activities during times when electricity prices are low or negative. For example, using the dishwasher at 14:00 tomorrow when the electricity price is -1.0631 öre can be a smart move.

Annual Savings

An interesting calculation shows that if we had the lowest electricity price throughout the year, it would cost -191 SEK to heat a medium-sized house of 160 sqm. This highlights the potential for significant savings under optimal conditions.

Conclusion

Electricity prices present both challenges and opportunities. By being attentive to price fluctuations, households and businesses can significantly optimize their energy costs.