All over Europe, prices are above 300 euros against the background of on the one hand the increase in demand and on the other hand the reduced contribution of RES.
Winter may have been late this year but the low temperatures and bad weather of the last few days have changed the price landscape as demand for energy is high with wholesale electricity prices in Greece and Europe pulling up.
All over Europe, prices are above 300 euros against the background of on the one hand the increase in demand and on the other hand the reduced contribution of RES.
With the exception, of course, of Spain and Portugal, where prices are close to 128 euros/MWh
In Greece, the wholesale price for today is at 381.34 euros/MWh, marking an increase of 15.45% compared to yesterday.
The maximum price is set at 532 euros/MWh and the minimum at 179 euros/MWh. As expected, natural gas dominates the electricity generation mix (with a percentage of 53.88%).
However, November closed for the average wholesale price at 227.75 euros/MWh.
However, it is noted that the retail prices announced by the providers for December are between 0.28-0.38 euros/kWh. The high prices with which the last month of the year starts can throw off the calculations of the providers.
In the Dutch hub the price of natural gas has escaped from the 100 euros it was in all the previous period and has now climbed back to 140 euros/MWh with the energy ministers sitting back at the table for the ceiling on December 13.
In the meantime, it remains unknown what will ultimately be done with the ceiling on the price of natural gas.
Seven member states including Greece are pushing for a more effective upper limit (ceiling) on ​​natural gas prices, arguing that what the Commission is proposing is not effective. The new proposal that has fallen on the table from the 7 countries provides that:
75% of the upper price limit (ceiling) should be determined according to a reference price and
the remaining 25% should move according to a weighted average of natural gas and LNG prices from the US, Asia and Europe.
It is noted that the proposal foresees a maximum price limit of 275 euros for TTF derivatives.
The mechanism will be activated automatically when two of the following conditions are met: the settlement price exceeds 275 euros for two weeks.
TTF prices are €58 higher than the benchmark LNG price for 10 consecutive trading days within the fortnight.
Funds for the energy crisis
The recovery of the excess revenues from the electricity production companies for the first period up to June, which will be collected by December 30, give the government the possibility, if the following months are colder, to continue supporting households and businesses more easily
The recovery of surpluses from the supply companies is also pending.
The regulation provides that the mechanism will be implemented for the period August 2022-July 2023.
The extraordinary levy will be calculated and imposed quarterly, with the first reference period in the August-October period, with the goal of being charged by the end of the year.
In addition, a reserve of 1 billion euros was foreseen in the draft budget, which will be used to deal with energy costs
moneyreview.gr
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