Electricity prices in Denmark fell close to zero kroner for many hours on Saturday, according to the energy companies OK and NRGI.
DR reports that the price of power dropped to around zero kroner in many hours of the day. The information comes from the energy companies OK and NRGI. The low prices apply across the entire country.
The drop began overnight and continues through Saturday evening. During that period, the pure electricity price will sit between minus one øre and eight øre per kilowatt-hour, including VAT. According to OK, households with an electric car can benefit in particular.
Kenneth Korsgaard, market director at OK, says charging an electric car this weekend is very cheap. He points to large volumes of power from wind turbines. As a result, prices are less affected by the expensive gas seen earlier in September.
Per Korsgaard, drivers can fill the battery for about 15 kroner if they charge while prices are low during the weekend. OK’s forecasts show that power will also be cheap on Sunday.
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A cheap weekend in an expensive month
The weekend prices are the opposite of the levels seen earlier in the week. DR notes that on Monday, the electricity price reached its highest level in nearly two years. September has otherwise been marked by rising prices.
When wind production is low, energy companies rely more on gas-fired power plants. The price of natural gas is currently very high, according to DR, as a result of the situation around the Strait of Hormuz. That link between gas and power prices has pushed Danish electricity costs up this month.
Lars Pedersen, press officer at NRGI, describes the weekend as a clear example of how quickly the electricity price can change. He notes that Monday’s price was the highest in just under two years, while Saturday’s falls to the bottom. For that reason, he says it makes sense to make a habit of following the price.
According to NRGI, following price movements gives consumers the option of shifting their power consumption. Moving use to cheaper hours can mean savings on the bill. The company points to this weekend as an illustration of that difference.
The near-zero prices cover the raw electricity price only. Taxes, tariffs, and supplier fees are added on top of that figure for households on hourly pricing. Both OK and NRGI presented the weekend levels as a short-term development tied to high wind output, and the effect on overall cost of living depends on how much consumption is moved into those hours.
