At high levels remains the wholesale price of electricity – Rise and the price of natural gas

Its wholesale is still high enough, while the price of natural gas on the Dutch stock market is rising, according to a report on ertnews. It is noted that concern is increasing, after yesterday’s attacks on energy infrastructure in Ukraine, and now at the heart of interest, not only developments in electricity prices, but also decisions taken at European level, so that consumers are not further burdened. At price level, so far, with November still in the second twenty-day, the average price of the month in wholesale is 140 euros per megawatt hour. This means, if we translate it into kilowatts, it’s 14 minutes, which is exactly as much as PPC’s green invoice for November. According to the same report, the European gas price is quite high, as it has risen to 46 euros per megawatt hour, and we see – as we had seen it in July and early September – the situation in Ukraine and its increased needs for electricity imports to disproportionately affect Europe, and in particular the “Balkan corridor”. At wholesale prices, Greece has 167 euros per megawatt hour, Bulgaria and Romania have the highest price, at 244 euros. These are the countries with which we have jointly asked the European Commission to take measures to halt prices. The situation in the rest of Europe is not the same. The price in Italy, which is bordered by Greece, is 137 euros. In other countries prices should be even at EUR 90 or EUR 100 per megawatt hour. What has now been documented is that the existing system, the target model and the mechanism for market resolution essentially divides crises across borders. Friday is the big critical meeting, as a delegation from the European Commission will come to Greece, where the issue of permanent measures will be discussed, a mechanism that can halt high prices, probably a margin. There are already statements at all levels and at a high level, and the Prime Minister will not be allowed to pass these prices on to the final consumer. And this time what has been implied is that subsidies will not only be for domestic consumers but also for businesses. According to the report a joint letter from the industrial associations of Greece, Bulgaria and Romania is being prepared to the European Commission, which raise the issue of competitiveness. It is an issue that Mario Dragi has also raised in his report, but in Greece the price is 30% above the European industry.