The strong “sensitivity” of prices to weather conditions as well as to the availability of various electricity generation technologies is reflected in the new surge in prices in wholesale markets throughout Europe.
Τhese developments bring back the need to take some action to contain the extreme fluctuations, which end up, especially in the case of Greece, to higher charges on electricity bills.
Prices
In particular, the wholesale price on the Hellenic Energy Exchange was settled at 205.78 euros per megawatt-hour – an increase of 46.80% – from 140.18 euros/MWh the day before.
The profile of the energy mix has changed significantly, with natural gas taking the lead in meeting demand at 48.12% and the share of RES declining to 26.66%, from 43.30%.
A similar picture in terms of peak prices is recorded on all European stock exchanges, following the decline in RES production and increased demand due to weather conditions, where low temperatures prevail in many countries. Indicatively, Germany recorded €222.18/MWh from €126.82/MWh, Austria €216.76/MWh from €138.89/MWh, Belgium €185.49/MWh from €136.10/MWh, France €160.57/MWh from €136.72/MWh, the Netherlands €206.89/MWh from €117.65/MWh, Poland €199.50/MWh from €126.16/MWh, while in neighboring Italy and Bulgaria the prices were set at €170.65/MWh from €142.82/MWh and €241.89/MWh from €150.77/MWh, respectively, confirming the “spread” of increases across the entire European market.
Concern and inertia
In any case, the evolution of prices is causing strong concern, especially on the part of consumers and businesses, who see energy costs consolidating at high levels and frequently increasing further.
In recent months, especially after the recent mini energy crisis of the summer, the market opts for “stable” tariffs, with suppliers launching competitive products. However, this policy is not followed by the entire market, which is practically “indifferent” to what is happening on the “shelves” of electricity supply companies.
