According to TV2, the electricity bill for the month of October was halved for the average Danish family compared to August, according to figures released by Danske Bank.
In recent months, record-high prices have caused electricity bills to explode in Denmark and pushed inflation into a more difficult situation, but last month the average weekly price per kilowatt-hour fell twice to less than 80 øre (plus tax and tariff) according to the specialist website Nord Pool, a price close to pre-gas crisis electricity prices.
A combination of unfortunate coincidences during the summer caused electricity prices to rise significantly, with the raw electricity price on some summer days reaching around 8 kroner per kilowatt-hour.
Electricity prices in Denmark have risen due to Western sanctions on Russia following the war in Ukraine. Russia has cut gas supplies to Europe, where it is an important fuel for electricity production, in response to the sanctions. Meanwhile, a hot and dry summer has hampered the transport of coal to power stations along European rivers. Moreover, the drought has also slowed electricity production at French nuclear power plants and Norwegian hydroelectric power stations.
The situation is uncertain for the winter.
The situation regarding winter remains unclear.
According to Jim Wilson, chief economist at Energinet,
For the whole of October, a kilowatt-hour of raw electricity costs only 1 kroner on average, compared to 3.5 kroner in August, of course without taxes, customs duties and VAT.
The price of gas has been partially reduced, after Germany in particular filled its gas reserves to the maximum extent at the same time as nuclear power plants in France and hydroelectric power plants in Norway increased production. However, we have not returned to the old normal because we are still under pressure, and gas still costs more than it did in the past. Just because Germany filled its reserves does not mean that everyone has done so, according to the expert.
However, Danish electricity prices are now much lower than they were during the summer.
For an average Danish family of two adults and two children living in a detached house, the electricity bill in October was actually more than half of what it was in August, according to calculations from Danske Bank.
In August, the family had to pay around 1,900 Danish kroner for electricity, while in October the amount was only around 900 Danish kroner. In comparison, for the same period in 2020 before prices started to rise, the amount was less than 640 Danish kroner per month.
Despite this good news for the Danes, there is a great deal of uncertainty about what will happen during the winter.
Not everyone may notice the drop in electricity prices.
It is worth noting that some Danes have not yet noticed that prices have decreased. If some have a fixed price agreement with the electricity company where the price is set, for example, every three months, customers may pay a much higher price until the price is recalculated. However, they did not have to pay higher amounts when prices became crazy, and this is what distinguishes fixed price agreements, according to the expert.
ومع ذلك فإن الوضع لا يزال “تحت ضغط” ، كما يحذر الخبير جيم فيلسون، فعلى سبيل المثال، إذا تجمدت محطات الطاقة الكهرومائية النرويجية في وقت أبكر من المتوقع، فسوف ترتفع الأسعار مرة أخرى.
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