Feb 8 โ€ข 05:45 UTC ๐Ÿ‡ซ๐Ÿ‡ฎ Finland Ilta-Sanomat

One picture shows whether stock electricity was worth it

The fluctuating prices of stock electricity have caused financial distress for many consumers, though it remains affordable in the long term.

The article discusses the financial implications of stock electricity pricing in Finland, noting that while recent price spikes have caused hardship for consumers, the long-term trend shows that stock electricity can still be a cheaper option. In January, the average price of electricity was 14.7 cents per kilowatt-hour, dropping significantly to just 4.5 cents in December. This volatility is attributed to the increasing share of renewable energy sources in Finlandโ€™s electricity production, with wind power accounting for 27% of domestic production last year.

In response to the price surges, the Finnish government is preparing a capacity mechanism aimed at mitigating these price peaks, although new weatherproof plants are unlikely to be operational until the next decade. The recent spikes have left many customers of stock electricity in dire financial situations, with prices reaching over 44 cents again recently. Some consumers, particularly those dependent on electric heating, have reported severely reducing their electricity usage, leading to uncomfortable living conditions where they resort to candlelight.

The impact of fluctuating electricity prices varies significantly among consumers, determined by their heating source, financial resources, and preparedness for these price challenges. Despite these short-term struggles, the article emphasizes that stock electricity remains a cost-effective option in the long run, as economic shifts and renewable energy investments continue to evolve the market dynamics in Finland's energy landscape.

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