Market Electricity & Day-ahead Price Insights

For locations with dynamic, hourly tariffs based on spot prices and market electricity prices, it is crucial to provide timely and accurate insights into current and future electricity prices. Information that enables consumers to adjust their energy usage by taking advantage of cheaper electricity prices and avoiding expensive periods is essential. Eliq offers a suite of insights and notifications that help end users proactively plan their energy usage and make informed decisions about whether it's a good time to consume energy or not.

How does it work?

Eliq ingests market electricity prices, including day-ahead prices, as they become available, and makes them accessible through the Insights API to support a variety of use cases.

Market prices per hour, day, month

Electricity prices can be requested using the "Get location market prices" Insights API endpoint by specifying the "from" and "to" dates for a specific day. If available, the day-ahead prices for the next day are returned, typically starting from 14:00 CEST, though this timing may vary slightly depending on data availability from the third-party provider.

Prices are set per hour but can also be returned at other resolutions. For example, if requested for a month or a year, the API will return the average price for each period, such as for each day of the month.

Note: In order for market prices to be available, the property spot_price_region_id must be set for the location.

Note: This endpoint relies on third-party data, and all users must have the appropriate Nordpool market data license. Please contact Eliq if you have any questions.

Market price summary

To provide easily understandable and comparable insights into the current day’s or month’s electricity price, the "Get Location market price summary" endpoint will return the average price for the period, along with information on whether the price is higher or lower compared to the same period from the previous day or month. This comparison helps users understand how today’s price compares to previous periods, offering valuable insights to guide energy consumption decisions for today or tomorrow.

Lowest and highest price

The Get Location market price summary endpoint can also provide information on what the lowest and highest price for electricity is.

API Reference Documentation

The endpoint Get location market prices is used to request an array of Market Electricity Prices for a specified resolution, to and from period. The result is an array of prices.

The endpoint Get location market price summary is used to request and present summarized information about the requested resolution and period to the end user.

Supported fuel types and Units

Market Electricity prices are only available for the fuel type electricity and the unit cost

All prices are returned excluding taxes or VAT and in the currency stated in the response.

Supported Location Profile Types

Market Electricity & Day-ahead Price Insights are supported for both residential and business locations (Locations with residential or business Profile Types). For more information about Location Profile Types, please visit the Location Profile article

Market Electricity Price alerts

To proactively inform end users of important future price changes, Eliq has implemented a series of notifications. These notifications are sent to users through the Eliq Webhook Solution. The Eliq platform continuously adjusts the timing of these alerts to ensure they remain relevant, even as prices fluctuate. Our goal is to avoid overwhelming users with too many notifications while ensuring that only significant increases in day-ahead prices are alerted.

Next day market price anomaly

Market price anomaly will send out notifications when the peak price for the day is substantially larger than previous days, or if the price is negative during the next day. This to inform end-users about when to use, or not use, energy.

Negative day-ahead electricity price

Eliq triggers this notification if the hourly prices for the next day are below 0 for any hour.

High day-ahead peak electricity price

This notification is triggered if the peak price for the next day is exceptionally higher compared to the peaks for the last 30 days.

Next day average price alert

These notifications are sent out when the average price for the next day is substantially higher or lower compared to previous the days. These notification are aimed to provide end-users with a timely understanding of tomorrows energy prices, and help them plan accordingly.

High average day-ahead electricity price

This notification informs end users of high average prices the next day. It includes information about what the average price is and which hour it peaks.

Low market prices tomorrow

This notification informs the end user of low average day-ahead prices compared to previous days and includes information of the average price as well as the hour of the day for which it will be the lowest.

Requirements

Prices are presented excluding taxes or VAT. The prices are returned in the currency specified in the response. The market price data source is Nordpool Group AS. Please ensure you have the appropriate license to use and distribute this data. Contact Eliq if you have any questions.

Currently, we support market price regions in Sweden and Norway. Additional countries can be added upon request.

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Use Cases

Below are a set of use cases for when and how to effectively present market prices to users in an app, with the goal of helping them understand:

• Today’s electricity market price - at a glance
• Tomorrow’s electricity market prices to plan ahead
• Historic energy usage behaviour in combination with electricity market prices
• Notifications to proactively help users act in advance

Today’s electricity price – at a glance

Help end users understand the electricity market price at a glance for "today." This card can be displayed on the home screen of an app, offering a quick overview of the "price right now", a visual graph to highlight the changes over the coming hours and information stating whether or not the price on average is high, low or average.

Todays electricity price - view details

From the card, let the end user dig into more details for the current day, a summary of the highest, lowest peaks as well as an indication if the current day has a high, low or normal average price range compared with the previous 30 days.

From here, the user can switch days moving backward in time to see historic consumption as well as price indications. Moving forward to tomorrow will show tomorrows price if that is available.

Daily electricity price in graph

On other resolutions, such as Monthly or Yearly, the end user can compare how much energy has been consumed and the average price for the day or the month.

Market Electricity Price alerts

Daily alerts for tomorrows electricity price provide proactive information to help the end user plan ahead. If tomorrows average price is high or low or even negative.

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