Expensive Price Peaks on the Electricity Market – Not With Loxone

Reading Time

3 minutes
26. June 2024

An unexpected technical problem on the Epex Spot electricity exchange caused short-term–but significant–price increases on Tuesday, June 25th, 2024. In Austria, the price for a kilowatt hour reached almost €2.00 for an hour on Wednesday, June 26th. In Germany, the maximum price even exceeded €2.30.

Loxone protects against financial losses!

Even if such high costs are due to an error on the electricity exchange and are unlikely to occur again in the near future, the Loxone “Spot Price Optimizer” Function Block ensures the most economical purchase of energy the rest of the time.

The “Max” parameter of the “Spot Price Optimizer” Function Block can be used to set a threshold value that, when exceeded, activates the “Very High” status. This setting determines which devices cannot be switched on when electricity prices are high.

Loxone, therefore, protects you from financial losses – fully automatically!

At the Loxone Campus, for example, electric cars are only activated in the standard “ECOcharging mode when there is a surplus of PV or in the 10 cheapest hours between 8 a.m. and 10 p.m.

Thanks to the seamless integration of the exchange price into the Loxone Config, the app immediately shows how the price varies throughout the day.

Who does it affect if the price on the stock market rises?

This basically affects all those who have a variable electricity tariff that obtains prices via the Epex electricity exchange.

For electric car owners, this could mean the cost of charging their vehicle could rise to around €2 per kWh during a peak hour like we experienced on Wednesday, June 26 between 10am and 11am at Epex.

How can it come to such a high price?

This increase resulted from a so-called decoupling during the day-ahead auction, meaning that each country had to hold its own auctions. (Intelligent Commodity Intelligence Services)

The biggest decoupling in history

Experts and the stock exchange operator are already in the process of analyzing the causes and carefully monitoring further market events. While such price deviations are significant, they are rare events and experts are working to prevent such incidents in the future.

Montel* quoted an expert from a transmission system operator who described the recent decoupling as the largest in the history of the European electricity market. The cause of this decoupling is still unclear.

*News agency specializing in energy information


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