Sweden seeing electricity prices down 21 percent


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Tuesday, 13 September 2011
The unusually heavy rains and warmer weather than normal helped to knocked down electricity prices on the Nordic electricity during last week's trading.

The average price in the spot market, dropped by 21 percent compared with the week before, writes the Energy Agency, energy market inspector, in its weekly newsletter.
But uncertainty about the Swedish nuclear power remains a headache for those looking for how log the low prices would continue to go down. For example, Ringhals 3 reactor was unexpectedly shut down on Sunday.

Anxiety about the coming winter, as well as a remainder of the astronomical prices of last very cold winter will now means that many people and companies could be forced to fix their electricity contract. Already in July, 36,000 households switched energy retailers, according to Statistics Sweden.

Of those who swapped their energy suppliers through the site, 78 percent chose a fixed electricity price deal for a one year contract.
“Choosing the Right electricity contracts have a major impact on household finances,” says the site's manager CEO Faraz Azim.

Financial crisis and the abundant rainfall, which brought down electricity prices, makes it now possible to obtain an electricity price that is lower than for some time last year, according to him.
By Team

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