The decrease in price is attributed to the combination of the decline in the international price of natural gas with high production from renewable sources.
A significant de-escalation of the price for electricity is recorded for today, according to the data of the pre-day market of the energy exchange.
Specifically, the average price for today, Monday, is 199.91 euros per megawatt hour, compared to 278.85 euros the previous Monday, October 10.
In total, since Friday the price of electricity has decreased by 25% (from 266 to 199 euros per megawatt hour). It is characteristic that the previous working day when a price lower than 200 euros was recorded was Thursday, June 19 (at 167.41 euros).
The -relative to previous months- reduced prices so far in October probably mean that the nominal electricity tariffs for November that will be announced next Thursday, October 20, will be correspondingly reduced and, by extension, the needs to subsidize the bills will be smaller.
The average market price for electricity so far in October is 266.73 euros per megawatt hour, compared to September’s average price of 416.87 euros and August’s 436.53 euros.
The decrease in the price for today Monday is attributed to the combination of the decline in the international price of natural gas with the high production from renewable sources.
The price of natural gas on Friday in the Dutch market fell during trading below 140 euros per megawatt hour. For this reason, the price of electricity is currently below 200 euros per megawatt hour in most European countries.
As for RES, the share in covering domestic demand is currently 62.4% (68.1% together with hydropower and Crete’s RES). Accordingly, the share of natural gas drops to 11.1% and lignite to 4.4%.
It is indicative that according to data from Wind Europe the share of wind power alone in meeting demand yesterday Sunday was 58%, a percentage that was the second pan-European after Denmark which reached 113%.
RES-EMP
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