Russia shuts off gas to Europe. On the same day, electricity prices in Sweden will land at sky-high levels, reports Dagens Nyheter.
– We have never had such high July prices for individual hours as now, says Emma Borgström, sales manager at Eon, to the newspaper.
On Monday, the price of electricity in southern Sweden will be around 4:50 on the Nordpool power exchange for large parts of the day. If you include tax, VAT and fees, the sum lands at SEK 6 per kilowatt hour for consumers. Electricity transfer fees are not included in the price.
Prices vary depending on where you are and what time of day you use the electricity. In Stockholm, prices will be highest during the evening, over SEK 6 per kilowatt hour.
It can probably be the highest electricity price seen at this time of year in Sweden. Electricity is normally traded for 20 to 40 öre on the electricity exchange in July.
Russia stops energy supply
On Monday, Russian Nord stream 1 will stop its energy supply to Europe, as the line will be maintained between 11 and 21 July.
There is a concern that Russia will not start Nord stream 1 again.
– It is true that the market is nervous that Russia will not start Nord stream 1 again after the annual service. If this does not happen, the European gas storage target of 80 percent will be impossible to reach, which would lead to a strained situation this winter, says Patric Elmén, press manager at Eon, to Dagens Nyheter.
According to Emma Borgström, sales manager at Eon, southern Sweden is more affected than the north by the situation in the gas market.
