2023-09-21 15:01:39
The energy price crisis in 2022 caused oil and gas companies in the European Union their profits will increase by 268% compared to the previous yearwhile the increase in profits of electricity companies was 25%, according to a study published this Thursday by the European association of generation companies, Eurelectric.
“There is a glaring disconnect between the real winners of the energy crisis, the oil and gas companies, and the regulatory approach that has intervened in the electricity market»declared in a statement the general secretary of Eurelectric, Kristian Ruby.
The platform that represents electricity companies in Brussels adds in its study titled Power Barometer that “as governments rushed to treat the symptoms of the energy crisis, many did more harm than good” because with their interventions in the markets “they discouraged investments and restricted activity throughout the continent”.
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This occurred in a context, adds Eurelectric, in which investments are needed “massive” to electrify the productive system and triple generation by 2050.
In its analysis of the energy price crisis, Eurelectric points out that The average price of the megawatt-hour (MWh) in 2022 reached 227 euroswhich led the governments of the EU Member States to allocate 646 billion euros to alleviate the bills of their homes and companies in that year, which limited the average increase in electricity bills to 10.9 % among the Twenty-Seven.
Despite the reaction of governments, between 35 and 45% of plants dedicated to aluminum, zinc and silicon They stopped their production, adds the electricity company employers.
In 2023, electricity prices have fallen to 100 MWh, partly thanks to increased gas imports from the United States, Norway and Algeria, and also because average gas consumption in the EU fell by 19% in 2022 and many homes installed electric heating systems.
This context seems to indicate that the worst of the price crisis is already behind us, although the average price of retail electricity it is still 58% higher than in 2021.
«We need more lines, more digitalization and greater resistance to the climate»which requires “a change in the regulatory approach” that allows “network operators to make early investments to begin preparing for further electrification.”
EFE
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