Electricity prices: Nordic Lands fear costly winter

With temperatures already at minus 15 degrees centigrade in Helsinki, anxiety about high energy prices is growing in the Nordic Countries. Many people there heat their homes with electricity because it has been cheap in the past. In Finland, households can also tie their energy contracts to international market prices. And the fact that water reservoirs are empty after a hot summer is increasing dependence on energy imports. The press discusses countermeasures.

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Kauppalehti (FI) /

Germany partly responsible for higher prices

The nuclear phase-out decided by Berlin was a mistake, Kauppalehti believes:

“The bumpy transition to green electricity and insufficient network capacities are causing heavy price fluctuations all over Europe. Just as the Olkiluoto 3 nuclear power plant is going on grid in Finland, Germany is phasing out twice as much nuclear power as part of its green transition but has no replacement capacity for this. ... If the European electricity supply system and electricity prices are to be brought into brought into balance once more, Central Europe and Germany in particular must solve the problem of energy production. Since coal, gas and nuclear power are no longer an option, the alternatives are increasingly limited.”

Aftonbladet (SE) /

Nuclear plants would be an expensive mistake

Aftonbladet thinks nothing of the idea of constructing new nuclear power plants:

“Above all, building nuclear power plants is too expensive. If reactors are being decommissioned, it's because refurbishing them would be too expensive. Building new ones would be even more expensive. And that would affect the entire price of electricity in Sweden. ... But there are other options. Wind power must be expanded in southern Sweden, not least offshore. ... The electricity grid must be made more robust. That should have been done ages ago, and of course it won't help immediately. At the moment the top priority is to cut back on using expensive electricity as much as possible.”

Aamulehti (FI) /

Sign when the time is right

Aamulehti advises readers to keep tabs on prices:

“Consumers should take a close look at their electricity bills now, especially if they pay the price on the electricity exchange or have an open-ended contract based on that price. According to forecasts, the price of electricity will go down again next year. But who trusts predictions in such uncertain times? Also when the third reactor at the Olkiluoto nuclear power plant goes on grid, prices could go down in Finland. Those who manage to sign an electricity contract when the price is falling could save a lot of money.”