SHARE
COPY LINK

ENERGY

Baltic nations confirm seven-fold offshore wind energy boost at Denmark summit

Nations bordering the Baltic Sea agreed on Tuesday to increase offshore wind energy  to 20 gigawatts by 2030, as Europe seeks to wean itself off Russian gas following Moscow's invasion of Ukraine.

Baltic nations confirm seven-fold offshore wind energy boost at Denmark summit
Poland's Prime Minister Mateusz Morawiecki, Latvia's Prime Minister Krisjanis Karins, Prime Minister of Estonia Kaja Kallas, Danish Prime Minister Mette Frederiksen, Prime Minister of Finland, Sanna Marin, President of Lithuania, Gitanas Nausėda and EU Commission President Ursula von der Leyen (seen from left) at the press conference after their meeting in the Baltic Sea Energy Security Summit at Marienborg near Copenhagen on August 30th. Photo: Mads Claus Rasmussen/Ritzau Scanpix
“We have agreed to increase offshore wind in the Baltic Sea seven-fold by 2030,” Danish Prime Minister Mette Frederiksen told reporters after hosting a meeting between Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland and Sweden.
 
“We are the frontline of European energy security”, Frederiksen said.

Russia was the only Baltic Sea nation not in attendance at Tuesday’s meeting.

 
“In this war Putin is using energy as a weapon and has put Europe, as we all know, on the brink of an energy crisis with skyrocketing energy prices”, Frederiksen said.

Twenty gigawatts would be enough to supply electricity to 20 million households, “more than the current wind offshore capacity in the whole of the EU today”, she added.

 
By 2050, the Baltic Sea’s wind energy capacity could be brought to 93 gigawatts, the countries said in a statement.
 
“Putin’s attempt to blackmail us with fossil fuels is failing”, European Commission President Ursula van der Leyen said.
 
“We’re accelerating the green transition. We are getting rid of the dependency on Russian fossil fuels,” she added.
 
The Commission said in March it wanted to reduce dependence on Russian gas by two-thirds this year, and completely by 2030.
 
It also unveiled a target to increase its share of renewable energy from 40 to 45 percent by 2030.
 
The EU also aims to reduce greenhouse gases by 55 percent by 2030 and to be carbon neutral by 2050.
 
On Monday, Denmark said it would increase its wind capacity off the Baltic Sea island of Bornholm from two to three gigawatts, and link this production to Germany’s electricity grid.
 
In May, Germany, Denmark, the Netherlands and Belgium announced a similar agreement to increase the North Sea’s wind power capacity tenfold to 150 gigawatts by 2050 to help the EU achieve climate goals and avoid Russian hydrocarbons.
 

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

COST OF LIVING

At what time of the day is electricity cheapest in Denmark?

The electricity rate for customers in Denmark may vary hour-to-hour due to several factors and can fall way below the average price. So when is it cheapest?

At what time of the day is electricity cheapest in Denmark?

The price of electricity could defy the current era of soaring energy costs and fall to around 0 kroner (before transport and taxes are applied) for a short period around 2pm on Wednesday.

The electricity price per kilowatt hour could fall to zero on October 5th because of windy weather across Europe, which will result in huge electricity production from both on- and offshore wind turbines, broadcaster DR reports.

Combined with solar energy, which doesn’t factor in when electricity prices fall at night but does in the afternoon, this will force the market price of electricity close to zero, according to the report.

Additionally, heavy rain in Norway and Sweden, both of which have large hydropower production, can also help reduce the price of electricity in Denmark.

Before you connect everything to the grid at 2pm, keep in mind that electricity won’t be completely free to consumers. Transport costs and taxes of around 1.40 kroner still apply, DR notes.

The cost of electricity will nevertheless be low throughout Wednesday afternoon.

That sounds unexpected at a time when electricity costs this winter are expected to be far higher than they were in 2021 and the government has announced measures to help households pay bills. Cities are introducing their own saving measures to reduce electricity use.

“We actually expect [low daytime rates on Wednesday] to persist for a while. At the moment it looks like there will be wind until the weekend and we anticipate a lot of rain will fall,” Jack Kristensen, functions manager with Denmark’s largest energy company Andel Energi, told news wire Ritzau.

“It is predictably the hours where there’s not much consumption that it will be cheapest,” he said.

“Preceding days have been much higher in price,” he said.

Kristensen said he predicted hourly prices on Wednesday of 3 øre (0.03 kroner) per kilowatt hour from 1pm-2pm, followed by 0.2 øre (0.002 kroner) per kilowatt hour from 2pm-3pm.

The most expensive times of day – when people are waking up and around dinner time – have recently seen prices at around 1.10-1.20 kroner per kilowatt hour, Kristensen told Ritzau.

Taxes and transport costs should be added to these figures to get the overall price. In August, the total price of electricity per kilowatt hour hit a peak of 9.47 kroner on August 30th, according to data reported by DR.

People searching for electricity savings should also keep in mind that the rate falls at night.

Because drops in the hourly electricity price caused by increased wind production are highly dependent on weather conditions, they are not easy to predict.

However, apps can be used to monitor electricity prices. These include the ‘Min strøm’ app, which has been downloaded by tens of thousands of people in Denmark. Popular alternatives are the ‘Elpriser’ and ‘Andel Energi’ apps.

Lower nighttime prices can be taken advantage of by setting timers on thirsty appliances like dishwashers and tumble dryers and running them at night.

The autumn could bring about a general fall in Danish electricity prices compared to August and September because of windier weather, according to an industry analyst who spoke to DR.

“With robustly windy weather over Denmark, Sweden and Germany, we and our neighbours will be able to produce lots of cheap electricity and we will have hours with very low electricity prices during the course of the autumn,” said Kristian Rune Poulsen, senior consultant with industry interest organisation Green Power Denmark, in comments to the broadcaster.

High levels of sustainable energy production make electricity prices less dependent on gas prices because less gas is needed to produce the electricity Denmark needs.

The war in Ukraine is a major factor causing gas prices to go up, also affecting the electricity price.

READ ALSO: How people in Denmark are changing their energy use to keep bills down

SHOW COMMENTS