The power exchange has calculated the wrong system price for three weeks – E24

In an autumn with a very strong focus on the price of electricity, Nord Pool has miscalculated the so-called system price since 9 November. But the calculator has no effect on the price you and I pay for electricity.

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For three weeks, Nord Pool has calculated the wrong system price, according to a report on Saturday.

The system price is a kind of calculation of what the electricity price would be if the power could flow completely freely, without restrictions.

This is used as a reference for financial players, for example companies that enter into contracts for price hedging.

Does not affect your electricity bill

What we usually refer to as the electricity price, ie what goes out to the end user, is not affected by the miscalculation. The system price is mainly used by electricity companies.

– We apologize to all customers for the inconvenience this situation has created, writes Nord Pool.

The error occurred as a result of a technicality when a new virtual area was to be configured, press contact Stina Johansen informs E24.

She emphasizes that the miscalculation has had no bearing on the price you and I pay for the electricity.

Europower mentioned the case first.

Great importance for trust

The company is now working on calculating the system price back to 9 November. We have to wait for these calculations to be able to say something about how big the discrepancies have been, says Stina Johansen.

Information manager Aslak Øverås in the industry organization Energi Norge writes in an SMS that they must wait for Nord Pool’s internal investigations before they can say anything about how serious this error is.

– We do not know how big the discrepancies have been. But in general, Nord Pool is of great importance for confidence in the power market.

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