Power utilities will in effect be paying customers to use excess electricity – but consumers will still have to pay transmission fees and taxes on what they use.Wind turbines in Lappeenranta, eastern Finland, last autumn. Image: Mikko Savolainen / YleYle News17:00The price of electricity will drop into the red on Sunday for customers with contracts based on spot electricity pricing.At 10am the price will fall to zero, and for the next seven hours the price will be on the minus side. Just over one third of households have contracts based on spot prices.Electricity will be at its cheapest after 3 pm, when the hourly price will sink to -0.96 cents per kilowatt-hour (kWh). Even when per-kilowatt-hour prices drop below the zero mark, customers still pay transmission fees and taxes on the electricity they use.The average daily price will be slightly on the plus side at 0.14 cents per kWh.The rate cut comes as Finland experiences mild temperatures accompanied by strong winds, with gusts of up to 15 metres a second expected to set wind turbines spinning.The Finnish Meteorological Institute has issued a strong-wind advisory on Sunday and Monday across central and southern Finland, as well as at sea.98% fossil-freeOn Saturday afternoon, consumption was slightly higher than production, so some electricity was being imported from Sweden and Estonia.The price was 1.10 euros per kWh, with 98 percent of electricity generated through non-fossil sources, according to Fingrid. Carbon emissions were estimated at 30 grammes of CO₂ per kilowatt-hour.Last year renewables – primarily wind and hydropower – surpassed nuclear as Finland's biggest source of electricity. Nearly 30 percent of domestic electricity production came from wind power, while Finland enjoyed Europe's third-cheapest electricity prices.
Electricity spot price falls below zero on Sunday
Power utilities will in effect be paying customers to use excess electricity – but consumers will still have to pay transmission fees and taxes on what they use.












