It is quite common for electricity prices to be relatively low on Sundays. But producers not being paid for electricity production in February has never happened before, according to Europower’s review of price statistics going back to 1996.
Early on Sunday morning, electricity costs zero in both NO1 and NO2 for three hours. It is a new Norwegian record for a winter day. Customers naturally have to pay internet rent and fees, but can save money by shifting consumption to the hours with free electricity.
On Christmas Eve last year, the electricity price was down to 0.4 øre/kWh, also then in NO1 and NO2. At the time, it was a new winter record for the months of December, January and February.
In addition to the three hours of completely free electricity, the price will be 1 øre/kWh for two hours on the night of Sunday.
It is the prices in Europe that drag the southernmost price areas down to zero. Bergen does not join this far down. There, the producers are paid far better, and the customers have to pay correspondingly more. The daily price in NO5 will remain at 50 øre/kWh, compared to 35–36 øre/kWh in the surrounding price areas.
Customers in Northern Norway get the cheapest electricity for the whole day on Sunday. There, the spot price will be 25 øre/kWh on average.
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This is the daily price for the Norwegian price areas on Sunday:
It is the United Kingdom that gets the price peak around the North Sea on Sunday, with 106 øre/kWh at 7 p.m. This is how electricity prices develop hour by hour in Norway and the surrounding countries on Sunday:
Full import from the British
Earlier this winter, Statnett throttled the import capacity from the UK, due to problems on the Norwegian side. The restriction has now been lifted, and there will be full imports from the British for three hours from 5am on Sunday morning.
At this point the price in the UK falls below zero. Admittedly only marginally and only for one hour, but negative prices at this time of year are almost unheard of in the past.
Overall, according to Nord Pool, an import on Sunday of 61 GWh is expected, thanks to full flow from Sweden to Norway in particular. Norway has net exports to the Netherlands and Germany, in addition to the British.