Unions have announced political strikes this week, targeting electricity and heating plants. According to Peter Strandberg, an electricity market expert, these strikes during the freezing season could lead to difficulties in producing electricity and heat. While the plants are not expected to be shut down, their failure could raise concerns that could affect spot prices and power supply.
Despite these concerns, market estimates predict that the spot price of electricity without VAT will remain around 55-70 euros per megawatt hour between Wednesday and Friday. The electricity union is planning 24-hour strikes between February 14 and 16 at various locations including the Loviisa nuclear power plant, Olkiluoto nuclear power plant, and hydropower plants.
Other unions have also announced a strike for Helsinki, Pietarsaari, and Kuopio. A significant event for the electricity market is the upcoming maintenance break at Olkiluoto 3, which may result in high or stable prices if the cold weather continues.
A good water situation is currently a positive indicator for the electricity market. This was affected by strong storms in December and January. However, this situation can serve to limit the development of electricity prices as there is currently a good water situation.
According to general manager Juka Leskela of district heating delivery company Energo Oy, delivery of district heating can be ensured during strikes. However, with a large number of potentially affected personnel, the situation is fragile as unexpected incidents can lead to plant shutdowns. Leskela also criticizes unions for taking on big risks by issuing strike notices without being able to predict electricity consumption, production, imports or wind conditions accurately.