2020 ended with a 1.1% decrease in the price of electricity for households and a 1.7% increase for legal users compared to 2019, according to the Public Utilities Commission (PUC) data.
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However, there is still a high level of interest among households to conclude a contract at both a fixed and an exchange price, with the share of universal service declining, PUC points out.
Last year, the price of electricity among households reached 56.92 EUR / MWh, but for legal users 47.43 EUR / MWh. The situation on the Nord Pool exchange has a significant impact on the price that users will pay. From October last year until February of this year, the price on the stock exchange increased to 59.15 EUR / MWh. The equivalent price was last observed in August 2018 – 59.05 EUR / MWh.
Electricity prices Growth at the beginning of this year was significantly affected by high consumption in Scandinavia and the Baltic countries. In the first two months of this year, consumption was 9.8% higher than last year, taking into account the cold weather. This situation was also exacerbated by capacity congestion in Scandinavia and rising CO2 emission allowance prices.
“With the start of the flood season and warmer weather, the price of electricity is expected to stabilize and even fall. In March, such sharp jumps in price as in February, when the price of electricity reached more than 200 EUR / MWh in some hours, were no longer observed,” explains PUC representative Jānis Don’t want to.
PUC data show that in December last year 134 thousand. or 14.5% of households paid for electricity at the stock exchange price, while at a fixed price of 531 thousand. or 57.6% of households. Among legal users, 44.3% have chosen the stock exchange price, but 55.7% have chosen the fixed price.
“Users who have chosen the exchange price, the opportunity to save at the end of last year and at the beginning of this year decreased significantly. However, this year the average exchange price in March has dropped to 43.55 EUR / MWh. On Easter night, there was a temporary negative exchange price. on the positive trend for users to gain savings from the stock price, “says Negribs.
The extent to which this price increase is reflected in the monthly electricity bill depends on the type of contract concluded. In the case of a stock exchange contract, the change is reflected immediately, whereas in the case of a fixed price contract, the price will change at the time of the contract switching and will depend on the current price forecasts.
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