Last week a cold snap hit Finland. A lot of electricity supply was offline due to maintenance. The peak price at Nordpool, Internordic electronicity market, hit 2.5 eur/kWh or 2500 EUR/mWh. This is 25x normal rate around 5c/kWh. The electricity demand flexed, being 30% under estimation/normal.

As a retail electricity consumer you can choose between market rate (hourly) or a fixed price electricity. Despite cold snaps, market rate saves long term.