News
The article is more than 2 years old

Spot prices negative Sunday night

Electricity prices will remain low on the Nord Pool exchange on Sunday.

Fingrid's EstLink 2 transformer station in Porvoo, with many electrical lines against a partly cloudy blue sky.
File photo of EstLink 2's converter station in Porvoo. Image: Lehtikuva
  • Yle News

The average spot price on Sunday will be 1.55 cents per kilowatt-hour (kWh), with a peak of 2.33 cents per kWh in the morning.

The electricity spot price will drop to zero briefly as Sunday begins and dip slightly into negative territory at the very end of the day.

The record electricity spot price of €2.35 per kWh earlier this month was blamed on increased electricity demand due to the extreme cold but also problems at local power plants.

Cable outage

Fingrid meanwhile said it is still investigating what caused the failure of EstLink 2, a transmission line between Finland and Estonia.

The EstLink 2 electricity transmission link between Finland and Estonia was disconnected from the grid around midnight on Friday.

The grid operator said current information does not suggest that the malfunction was the result of tampering, but investigators have yet to determine what caused the failure.

EstLink 2's outage has reduced the electricity transmission capacity between Finland and Estonia by 650 megawatts.

The total length of the electricity transmission link is 170 km, of which 145 km is submarine cable, according to Fingrid.

Users with an Yle ID can leave comments on our news stories. You can create your Yle ID via this link. Our guidelines on commenting and moderation are explained here.