• Sun. Dec 3rd, 2023

Power Surge: Electricity Exchange Customers Brace for Substantial Price Hike on Tuesday


Nov 20, 2023

The interruption in Olkiluoto 3’s electricity production will cause a significant increase in the price of electricity on Tuesday, according to Risto Kinnunen, an expert at Väre. Kinnunen estimates that the price may reach as high as 30 cents per kilowatt-hour or more. The faulty temperature measurement of the generator’s cooling system is the cause of the failure, and TVO has estimated that production will resume at noon on Tuesday.

On Wednesday, however, the price of electricity on the stock market is expected to drop due to the start of Olkiluoto 3’s production and an increase in wind power generation. According to Kinnunen, this drop in prices could be significant. However, by the end of the week, fluctuations in hourly prices are expected due to windless and colder weather conditions.

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