Re:Bidding error sees Finnish day-ahead power price tumble t...
by patall on Thursday November 23, 2023 @06:07PM
(#38398757)
They placed a bit at that price doesn't mean the market price will be that high.
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Re:Bidding error sees Finnish day-ahead power price tumble t...
by sigurdjs on Thursday November 23, 2023 @06:12PM
(#38398804)
It is an auction and everyone pays the same price. During the afternoon tomorrow every household in Finland will be paid significantly for their power usage unless they have a fixed price agreement, which is not that common
Re:Bidding error sees Finnish day-ahead power price tumble t...
by ttkari on Thursday November 23, 2023 @06:30PM
(#38398956)
According to Finnish Energy Authority (energiavirasto.fi), at the end of 2022 only 13,7% of customers had a contract where pricing is tied to the hourly market rate. It is much more common to have either a fixed price contract (usually for a term of 12 or 24 months) or a contract where the pricing is set by for example monthly averages of the market price.
Re:Bidding error sees Finnish day-ahead power price tumble t...
by sigurdjs on Thursday November 23, 2023 @06:38PM
(#38399016)
My mistake! Assumed all Nordic countries were the same
Re:Bidding error sees Finnish day-ahead power price tumble t...
by stevekemp on Friday November 24, 2023 @01:05PM
(#38406543)
I'd suspect that actually fixed-price agreements are very common, and represent the overwhelming majority of contracts for residents/individuals.
I know that after the war started spot-prices rose sharply and a lot of people made the jump. Some, unfortunately, locking themselves into relatively expensive prices.