Today's and Tomorrow's Electricity Prices in Sweden

Richard Andersson - Mon, 13 May 2024 - 11:31

Economics Electricity prices

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

Today, on May 13, 2024, we have witnessed a significant variation in electricity prices throughout the day in Sweden. Prices have fluctuated from as low as 0.35 öre per kWh in the afternoon to a peak of 66.75 öre per kWh in the early morning hours. This dynamic in prices offers both challenges and opportunities for consumers to optimize their energy usage.

Optimal Times for Energy Consumption Today

During the early afternoon hours today, historically low electricity prices were recorded, with an absolute minimum point of 0.35 öre per kWh between 2:00 PM and 2:59 PM. This price is exceptionally low and provides a unique opportunity for cost-effective energy consumption, especially for larger energy consumers such as electric vehicles and household appliances.

Predictions for Tomorrow

For tomorrow, May 14, a continued trend of low electricity prices is forecasted, particularly in the afternoon where we see negative prices from 11:00 AM to 4:59 PM. These negative prices mean that consumers actually "get paid" to consume electricity, which is a rare and highly advantageous situation.

Economic Benefits of Low Electricity Prices

During today's cheapest hour, for example, the cost to charge an electric vehicle is only -4.62 kr, meaning that electric vehicle owners receive a credit instead of a cost. Similarly, a shower or a bath, which are normally energy-intensive activities, can generate a small financial return instead of a cost.

Strategies for Households

To maximize the benefits of these fluctuating electricity prices, households should consider scheduling energy-intensive activities such as laundry, dishwashing, and heating to times of the day when electricity prices are lowest. Especially during hours with negative prices, it can be economically advantageous to even shift normal routines to take advantage of the low or negative costs.

Summary of Today's Electricity Price Patterns

In conclusion, today's and tomorrow's electricity price patterns offer unique opportunities for energy savings and cost-effectiveness. By being mindful of these price fluctuations, consumers and businesses can make well-informed decisions about when to use larger amounts of energy, which can lead to significant savings over time.

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Sweden's CPIF inflation

1,10 % -0.1%

Sweden's policy rate

3.25 % -0.25%

Sweden's national debt

1 050 141 071 104KR

Electricity prices Monday, 13 May 2024