Denmark electricity prices surge due to low wind and high gas costs

Electricity prices in Denmark are expected to reach significant peaks on Thursday evening due to low wind production and high consumer demand. In both the DK1 (West Denmark) and DK2 (East Denmark) price areas, the pure electricity price is projected to exceed 3 DKK/kWh, with a peak of 3.5 DKK/kWh expected around 19:00.

Norlys energy director Ellen Trolle noted that the lack of wind and solar energy increases reliance on gas-fired power plants. This dependency is compounded by historically high natural gas prices resulting from the heightened situation near the Strait of Hormuz.

September has seen a higher average electricity price compared to August, which was already the most expensive month since December 2022. Current averages for early September are trending higher than the previous month's figures.