From Greece to Ukraine, the entire Eastern Corridor is once again in the… red with Hungary leading the hike and Balkan countries such as Romania, Bulgaria and Greece following.
It is characteristic that over the last 4 days, from November 9th to tomorrow, November 13th, the average market clearing price (Market Clearing Price MCP), which is essentially the Next Day Market clearing price (DAM price) on the Greek Energy Exchange, has increased 150% from €91.92 per megawatt hour on November 9th to €229.84 per megawatt hour tomorrow November 13th. The change in the wholesale price is attributed to the increased demand, which occurred due to the drop in temperature.
In detail, wholesale electricity prices in Greece have been set as follows:
-9 November 91.92 €/MWh,
-10 November 111.92 €/MWh,
-11 November 173.78 €/MWh,
-12 November 202.22 €/MWh,
-13 November 229.84 €/MWh,
Total increase +150% in 4 days.
An increase in tariffs is imminent
October
Average wholesale price: €90.05/MWh
Electricity bill (400 kWh) €56
November
Average wholesale price: €129.71/MWh (+44%)
Electricity bill (400 kWh) €79)
The Deputy Minister of Environment and Energy, Alexandra Sdoukou, speaking to ERT and the show “Connections” from Baku regarding the increase in electricity prices, explained that: “The recent increase in the wholesale price is mainly due to the decrease in production from renewable sources due to lack of wind and sunshine, combined with increased demand due to low temperatures. This is a temporary phenomenon, which is observed throughout Europe”.
The government is monitoring the issue carefully, since if the same trend continues, it is possible that subsidies will be needed again for the green tariffs, which, however, are slowly dying compared to the blue fixed ones. With these and with these, the average November price reached 130 euros, when in October it closed at 90 euros. If there is no correction in the next period, the fluctuating bills of November threaten households and businesses with new fires in December…
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#Electroshock #wholesale #price #rally
