Electricity prices are soaring in Sweden, and especially in the southern part of the country. In electricity area 4, which includes southern Götaland, the cost on Thursday is SEK 2.93 per kilowatt hour.

Increase of 52 percent

On Friday, the cost per kilowatt hour will go up to SEK 4.47 – an increase of 52 percent, and the most expensive price ever, according to the Nordic electricity exchange Nordpool.

The previous peak was on December 21 last year. Even then, the price quickly shot up for a couple of days and was at most SEK 4.26 per kilowatt-hour, before falling back to around SEK 1.44.

The explanation: Expected to be calm

According to Johan Sigvardsson, electricity price analyst at Bixia, there is a simple answer to the high increase.

– It’s that there will be no wind tomorrow. Electricity area 4 is very exposed when it is not windy, he says.

But a limited transmission capacity also plays a role, as does the fact that reactor 4 at Ringhals is out of service.

– Then we get this close connection to the continental prices, he says.

Prices also increase in electricity area 3

As the high pressure, and thus the weak wind, will last until the beginning of next week, Sigvardsson believes that the high prices will last until then – with a small exception during the weekend, when the load is generally lower.

The electricity price also increases in electricity area 3, which includes northern Götaland and all of Svealand.

There is a sharp increase between Thursday and Friday to SEK 2.62 per kilowatt hour. Similar prices were measured at the beginning of August and the end of June.