On days with large fluctuations in electricity prices, it is worth checking the electricity price before starting the washing machine.
On Friday, December 6, there is a whopping 111 øre difference in the electricity price per kWh during the cheapest and most expensive hours of the day.
It is far from the first time that 2024 has offered such large price differences. A total of 149 times this year across the two price ranges, the difference between the highest and lowest electricity prices has exceeded one krone per kWh excluding VAT. Only during the energy crisis in 2022 have there been more days with such large fluctuations.
- Electricity increasingly comes from renewable energy sources, and therefore the electricity price also fluctuates more depending on how much it is windy or when the sun is shining. It is therefore worth keeping an eye on electricity prices if you have a variable electricity price agreement, because there can be a lot of money to save if you plan your consumption accordingly. At the same time, it is good for the climate, because it is usually also when electricity is cheapest that it is greenest, says Mads Brøgger, director of Norlys' energy business.
The development with the large differences in the most expensive and cheapest hours of the day really took off from the fourth quarter of 2021. It has been particularly in the summer and autumn months that the fluctuations have been greatest.
Customers who want a more predictable electricity price, or do not want to follow electricity prices closely, can still choose an electricity price agreement, such as MånedsEl from Norlys, with a fixed monthly price.
Greater requirements for electricity companies
However, it is not only consumers who must adapt to a new reality. As an electricity company, developments also place demands on which products should be on the shelves.
In the coming years, more Danes will have to prepare themselves for their electricity consumption to increase as they switch to electric cars or heat pumps, and here the electricity companies will have an important role.
- At Norlys, we do a lot to help our customers optimize their consumption. Our home chargers have built-in smart charging, which means that customers simply plug in the charging cable and it automatically charges when the electricity is cheapest and greenest. In our electricity price app, customers can also get help finding the biggest power consumers in their home, explains Mads Brøgger.
Norlys' electricity price app, which won a European award for user-friendliness in November, is continuously being developed with several new tools that can make customers more aware of their consumption.
Facts
The Danish electricity system is divided into two zones called DK1 and DK2. DK1 covers Western Denmark (Jutland and Funen), while DK2 is Eastern Denmark (Sjælland and Bornholm). DK1 is connected to the Central European electricity system, while DK2 is connected to the Nordic one.
Therefore, prices in the two areas can vary, as they are also affected by the markets they are connected to. In 2024, every third hour will have different electricity prices in DK1 and DK2.
There is therefore also a difference in how many and which days there has been a difference of 1 krone or more between the most expensive and cheapest hour of the day in DK1 and DK2 respectively. For DK1 this has happened 71 days this year, while in DK2 it has happened 78 days – a total of 149 days.
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