Heating: Where prices are today in relation to last year – What energy consumers should pay attention

In a few months it officially begins its period, with citizens wondering whether this winter will be as mild as the previous two or whether it will be colder this time by pushing demand and prices upwards. It is a fact that during the energy crisis Greece has succeeded in seasonally having higher temperatures in the winter months, which has limited the need for heating and helped households and businesses. 2024 is the hottest year in the chronicles and therefore the reasonable question is expressed whether high temperatures will continue. Apart from the climatic aspect, it is important how the price of each form of heating has been shaped today, since it gives us a basis for where they can reach in winter. The European gas contract TTF started last winter at 50 euros and then retreated at 24 euros. From that point on, it is on its way up to 37 euros today. In other words, midpoints are close to what we saw last year. The course of the price of gas will depend on geopolitical factors, although Europe remains well equipped, so no deficiencies are expected that could launch the price. In the case of oil, the international price is also at corresponding or lower levels than last year, while the company has the heating oil at 1.27-1, EUR 31 per litre for EUR 1,41 costing on 1 November 2023. Finally, there is a rise in wholesale price from EUR 100-110 to EUR 120-130/MWh in electricity, which prompted the government to offer subsidies for August. This support may continue over the next few months depending on the circumstances and will significantly affect the calculation for anyone who uses heating with air conditioning, heat pump or other electricity solutions. We should remember that green tariffs are currently at 14-15 minutes per kilowatt hour along with the subsidy, while at the beginning of 2024 it was 10-11 minutes, which is much lower. On the basis of this preliminary picture, consumers come out with electricity heating, and more profitable ones with heating oil.