After a dry start to the summer, many feared that the autumn’s electricity price would skyrocket. Then the rain came and filled up the reservoirs of the hydropower.
— At the moment it looks very controlled. We have got better storage levels for hydropower both in Sweden and Norway and the gas depots in Europe are very, very well filled, says Johan Sigvardsson.
The electricity price looks set to remain stable on the European market until the autumn. The forecast for October is 76 öre per kilowatt hour (kWh).
— It is significantly lower than what was thought just a month ago, but if it starts to be three or four dry weeks, the price will start to rise again.
Despite the relatively low price during the spring and summer, Swedes still economize on electricity. Consumption is between five and ten percent below normal consumption for the season.
“It’s quite a lot in terms of energy saving,” says Johan Sigvardsson.