Today's and Tomorrow's Electricity Prices: Getting Paid to Consume Energy?

Richard Andersson - Sat, 11 May 2024 - 11:02

Economics Electricity prices

Electricity Prices Today and Tomorrow: An Overview

The electricity prices in Sweden today and tomorrow show an interesting dynamic with prices varying significantly throughout the hours of the day. Today, on May 11, 2024, we have witnessed a remarkable situation where electricity prices have even dropped to negative values, meaning that consumers are actually paid to use electricity during certain hours.

The Rollercoaster of Electricity Prices

During the early morning hours today, electricity prices were relatively high, reaching a peak of 64.45 öre per kWh at 8:00-8:59 PM. However, a sensational turnaround occurred in the afternoon when the price dropped to 0 öre at 11:00 AM and then continued to be negative, with the lowest price at -1.07 öre at 2:00-2:59 PM.

Tomorrow: Even Lower Prices

The predictions for tomorrow, May 12, indicate even lower prices. During the morning hours, prices are expected to be relatively low, and at 2:00-2:59 PM, they are projected to reach a negative peak of -7.71 öre per kWh. This provides a unique opportunity for energy consumers to plan their higher energy consumption during these hours.

Optimal Times for Household Chores

Today, during the cheapest hour, for example, you can charge your electric car for -462 öre, take a shower for -30 öre, or run a dishwasher cycle for -11 öre. These negative prices offer a rare opportunity to save money on higher energy consumption.

Prices Vary Significantly Throughout the Day

It is important to note that electricity prices vary significantly throughout the day. For instance, during the most expensive hour today, it cost 4706 öre to charge the electric car, which contrasts sharply with the negative prices during other times.

Fun Fact: Annual Costs at Low Prices

If we had the lowest electricity price throughout the entire year, it would have cost -1388 kronor to heat a normal-sized house of 160 square meters. This highlights the significant impact that electricity prices can have on annual energy costs.

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Sweden's CPIF inflation

1,10 % -0.1%

Sweden's policy rate

3.25 % -0.25%

Sweden's national debt

1 050 141 096 630KR

Electricity prices Saturday, 11 May 2024