Spot rate pricing for electricity is uncommon among households for exactly this reason. The price is most likely the result of energy market conditions, rather than nefarious actors in the market intentionally manipulating market conditions.
Usually there’s a company that would be absorbing that risk of price fluctuations by charging slightly more than the baseline normal so that they can afford to charge households at a loss for the short periods where the price spikes as insanely as this.
Everyone’s free to get a fixed price deal though. It’s bound to be more expensive overall, though, since what they’re selling with fixed price is insurance.
The good part of this is that it clearly directs people to waste less energy when demand is high and supply low – it was just reported that today Finns are spending roughly 1GW less than forecast (15GW) because of the high prices.
That is an insane price, and it feels like it should be illegal.
Further integration at an EU level would allow energy supply to be less influenced by local issues.
Spot rate pricing for electricity is uncommon among households for exactly this reason. The price is most likely the result of energy market conditions, rather than nefarious actors in the market intentionally manipulating market conditions.
Usually there’s a company that would be absorbing that risk of price fluctuations by charging slightly more than the baseline normal so that they can afford to charge households at a loss for the short periods where the price spikes as insanely as this.
Everyone’s free to get a fixed price deal though. It’s bound to be more expensive overall, though, since what they’re selling with fixed price is insurance.
The good part of this is that it clearly directs people to waste less energy when demand is high and supply low – it was just reported that today Finns are spending roughly 1GW less than forecast (15GW) because of the high prices.