Danes have to go back several months to find the last hour with an electricity price below zero. For more than two months, electricity prices have been stable above zero – the longest period since the end of the energy crisis in early 2023. This is stated by OK in a press release.
According to the energy company, the development is mainly due to the limited wind production in Europe. As the winter months lower the temperature and reduce solar energy, significantly more wind is required to keep electricity prices down.
- When there is not enough wind for a longer period, we are missing a large part of the cheap, green electricity that normally keeps prices down. This means that we become more dependent on the more expensive energy sources, and this has a direct impact on prices, says Troels Skipper, product manager for electricity at OK.
When renewable energy is not enough to cover the need, power plants have to step in, which pushes prices up further.
In cases where power plants have to take over, electricity simply becomes more expensive. Wind and solar normally provide the cheapest energy, but when production falls, we have to rely on fossil-fuelled power plants, which have higher costs. This pushes average prices up – especially in the winter months, when consumption is already high, says Troels Skipper.
In November, the average electricity price in Denmark was 69 øre per kWh – the highest monthly average price since February.
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