2023-09-10 13:48:28
There is virtually no wind this weekend, causing electricity prices in Europe to skyrocket. In Germany, it has also reached its highest level in seven months.
On the “day-ahead” market – that is to say the price paid for delivery on Monday – the price of a megawatt hour of electricity in Germany thus exceeds 150 euros, a total which had no longer been reached since mid-February. Monday evening, the price should even peak at 524 euros for a megawatt hour.
Electricity is also expensive in the Netherlands: more than 148 euros per megawatt hour. The situation is not very different in Belgium: 133.4 euros per megawatt hour, with peaks of more than 330 euros between 8:00 p.m. and 9:00 p.m.
Experts explain this phenomenon by the lack of wind, warm temperatures and increased demand for electricity following the weekend. In addition, Belgium still faces reduced nuclear production. As a result, the price “becomes more volatile, more quickly during small anomalies,” explains Matthias Detremmerie, trader at energy supplier Elindus.
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