Just a week ago, southern Sweden was reached by a new record in electricity prices, specifically 4.34 kronor per kilowatt hour. That figure can now almost be seen as insignificant. This afternoon, the price is estimated to reach as high as 6.49 kronor per kilowatt hour (!) for electricity customers in southern and central Sweden. That is almost 50 percent higher than the previous peak.
Aftonbladet reports this today, and Christian Holtz, electricity market analyst at the consulting company Merlin & Metis, comments on the situation.
– These are exceptionally high prices. When we are at such high levels, very little is required for major changes to occur.
"High risk of new price records"
The reason for the new increases is considered to be a combination of low wind power production, high fuel prices in Europe and cold temperatures in the country. In addition, the export of electricity is limited as domestic demand continues to increase.
When asked by Aftonbladet how expensive electricity can become, a bleak answer is given.
– In principle, there is no ceiling for how expensive it can become. Throughout January and February, there is a high risk that we will see new price records, says Christian Holtz.
A bright spot in the reporting is that the northern parts of the country will not be affected nearly as hard. There, the electricity price for a kilowatt hour is estimated to be around 1.97 kronor.
