Climate of intense concern in the electricity market

Of Thanks to Floudopoulos

A climate of intense concern is expressed by sources in the electricity market regarding the course of prices in the wholesale market.

It is characteristic that for today a new record is expected in the wholesale cost of electricity at 276.47 euros / MWh, with the maximum price reaching 356.95 euros / MWh.

Yesterday, gas prices fell slightly below 95.5 euros / MWh, but remained extremely high, pushing electricity prices across Europe.

In Greece, however, electricity prices in November herald a new government intervention to increase subsidies to consumer accounts.

According to unofficial data from the energy exchange, in November until today, the wholesale price shows a new increase of 10% compared to October.

Specifically, the average price of the daily market is at 221.11 euros / MWh from 198.32 euros / MWh in October. It is recalled that based on the price of October it was decided to increase the subsidy for the months of November and December to 39 euros / month.

The climate of concern is intensifying after the developments around the NordStream 2 pipeline and the blockade of the German Energy Regulatory Authority.

So while the expectation from the government was that by the end of the year, there will be a de-escalation of gas prices and consequently electricity prices, now the data has been reversed.

Thus, the need to further increase the electricity subsidy is urgently on the table, in order to reduce the effects of the price rally for consumers.

And of course the inflated tariffs that are already reaching consumers at this time also pose a systemic risk to the market for an increase in outstanding debts.