A lot of wind is forecast for the next few days, which will result in low electricity prices, according to energy trader Matthias Detremmerie, with “very negative intraday prices”, he adds. Therefore, large energy consumers might even receive money when they consume electricity. The relatively mild temperatures this Christmas season and the fact that many businesses are closed during the holidays also explain the current low prices, according to the trader.
The average price of electricity produced on Wednesday and delivered on Thursday amounted to 33.22 euros per megawatt hour, the lowest figure for the year 2022. This price had reached an unprecedented peak of 700.41 euros per month at the end of August. megawatt hour on average due to the record price of natural gas, a consequence of the Russian invasion of Ukraine and the closure of certain French nuclear power plants. Added to this is the lack of wind power and the mild temperatures, among other things.
In recent months, the price has started falling once more, except for a rebound in mid-December when a peak of 467.15 euros per megawatt hour was reached on December 13. Indeed, the freezing temperatures, the lack of wind and the persistent problems of French power plants have led to an increase in electricity prices in Belgium.
The quantities of wind energy and nuclear energy produced will be sufficient to provide carbon-free production to meet the total electricity demand in Belgium, says Detremmerie. However, there might be shortages during peak consumption in the evening, but these would be amply filled by the Coo hydroelectric power station, located in the Amblève valley, in the province of Liège, he assures.
