2023-11-24 11:56:41
Electricity prices in Finland are negative on Friday due to the mistake made by a trader who offered for sale half of the electricity the country consumes in a day. The national network operator asks customers not to take advantage of this to consume more.
The offer proposed in error caused the price of electricity to drop to an average of -203 euros for a megawatt hour, compared to an average of 35.28 euros in normal times.
Many Finns have a variable rate contract, which depends on the price of electricity on the market. They can therefore temporarily benefit from free electricity. Additionally, electric cars and heat pumps tend to charge automatically when prices are low.
The cost of this manipulation for the company involved should amount to at least 25 million euros, according to experts. “They simply sold something they didn’t have, and the buyers bought something that didn’t exist.”
Finland’s grid operator on Friday asked consumers to refrain from using more electricity than usual. There should be no supply problem, but producers are called upon to intervene if necessary, the five Finnish nuclear reactors are already operating at full capacity.
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