High energy prices persist – Inflated electricity bills

Of Thanks to Floudopoulos

Energy prices continue to be at extremely high levels in Greece and Europe, negatively affecting economies, businesses and households.

It is characteristic that according to the data of the energy exchange, in January the average wholesale price of electricity is over 200 euros / MWh at 211.4 euros / MWh, declining compared to 235.38 euros / MWh which was the average price in December but also in relation to the 228.87 euros / MWh that was in November.

It is characteristic that the weighted average price of the electricity market for 2021 was at 132,075 euros / MWh while in 2020 the corresponding price was 58,099 euros / MWh

In any case, the wholesale cost of electricity in January so far continues to be in the “red” area, which triggers significant increases in the cost of electricity in retail, through the famous adjustment clause that has been included in the accounts of all providers.

It is estimated that the additional cost of the adjustment clause added to the cost per kilowatt hour (6 to 12 cents / KWh) that we pay on the electricity bills for January is at the level of 20 – 22 cents / KWh. It is noted that from this cost should be deducted the 42 euros which is the monthly government subsidy for the month of January.

Electricity prices in Greece and in Europe remain high, confirming estimates that at least in the first quarter of the new year, the energy crisis is not expected to subside.

In fact, it is worth mentioning that the stock market prices of natural gas, in the last few days, show a slight decline, below 80 euros / MWh, up to 73 euros / MWh.

However, this decline is not enough, given that last year in the corresponding period prices were below the level of 20 euros / MWh. In any case, all the forecasts for price fluctuations, estimate that it will be difficult to see the price of gas at these levels again.