Electricity could hit 7 kroner per kilowatt hour (kWh) in parts of Denmark on Tuesday, over ten times more expensive than 2025’s average price of 65 øre per kWh.
The highest prices are expected to occur between 5pm and 6pm on Tuesday in eastern parts of the country, according to a press release from energy company OK.
This means electricity could reach its most expensive level since the 2022 energy crisis, according to OK.
The unit price of electricity is added to fees, taxes and transport costs to calculate the overall rate paid by the customer.
The exact reason for the current price spike is hard to determine but could be related to electricity traders submitting incorrect bids and thereby pushing prices up, according to OK.
People in the western half of Denmark, including Jutland and Funen, will be less severely affected with prices in those regions this forecast at around 2 kroner per kWh.
Although there are often differences in electricity prices east and west of the Great Belt,Tuesday evening’s gap is “remarkable” according to Troels Skipper, product manager at OK.
“Tonight’s difference is completely extraordinary and something we don’t see very often. For a while, people in Jutland and Funen will pay up to 7-8 kroner less for electricity than those in Zealand and Bornholm,” Skipper said in the statement.
Energy providers in Denmark offer various types of variable rate electricity contracts, with both hourly and quarter-hourly rates available.
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Industry organisation Green Power Denmark recommends waiting until after 6pm on Tuesday to use high-power appliances such as ovens or washing machines. Electric vehicles can also be charged outside of the peak period.
The electricity price is expected to fall to around 4 kroner per kilowatt-hour after 6pm today, the group's energy analyst Kristian Rune Poulsen told news wire Ritzau.
“We typically use a couple of kilowatt-hours when cooking, so if you wait until after 6pm to turn on the oven, you could save 6 to 7 kroner,” Poulsen said in a written comment.
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