Secure Fixed Electricity Rates in Finland: Lock in at These Competitive Prices

The price of electricity futures for the first quarter of 2021 rose by more than 50 percent in October, according to recent reports. While the breakage of the Balticconnector pipe and the re-inflamed situation in the Middle East are considered factors, experts suggest that there is no reason to assume that the fear effect has completely dissipated from electricity futures prices.

According to Pekka Salomaa, director responsible for the electricity market at Energiateollisuus ry, future prices should not be taken as reliable forecasts. They are merely indicative of when protections are made for a specific moment. Despite this, Salomaa believes that there will still be significant fluctuations in electricity prices in the future. He notes that while the current price of electricity is lower than it was last winter or a year ago, it is still higher than before the last few years.

As of Monday, updated hourly prices show that the taxable price of stock exchange electricity will be as high as 96 cents per kilowatt hour on Tuesday. Salomaa reminds consumers that while there have been high temperatures throughout November, this does not justify such high prices for stock exchange electricity. He also advises against fixed electricity contracts without a consumption effect, as they carry a risk premium for energy companies due to their uncertainty about customer consumption habits.

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