Filenews 9 March 2022 - by Chrysanthos Manolis
Due to the special conditions after the Russian invasion of Poland, the wholesale cost of electricity production in most EU countries has risen to incredible heights, with the exception of Cyprus (perhaps the cheapest member country in electricity today), Poland (enjoys special arrangements from the Commission) and Scandinavian countries, which produce at prices of 2-3 cents per kilowatt-hour higher than the cost in Cyprus.
The unprecedentedly high (wholesale) prices of electricity generation in the EU have already surpassed the record prices that had been formed at some stages of the coronavirus pandemic and there is a visible risk of even worse days if an embargo is finally imposed on the markets of Russian gas or oil or if Russia stops or reduces its energy fuel exports, in retaliation for the sanctions against it.
If there is one note that can be considered somewhat optimistic about electricity prices in the EU, it is yesterday's slightly lower "next-day prices" for today's consumption, compared to the shock prices that were formed on Monday for Tuesday's consumptions. However, even the decrease recorded for today's prices is not capable of dispelling the concerns of Europeans about the very serious impact on the economy of most countries of the now expensive energy.
Specifically, the picture for the wholesale prices that will apply today show as the most expensive country the Czech Republic, with 539,73 €/MWh (euro per megawatt hour or 53.4 cents per kilowatt hour, while in Cyprus it is around 17 cents per kilowatt-hour!), from 574,54 €/MWh that "locked" for yesterday's consumptions.
Following: AUSTRIA: 474 €/MWh today, from 555,45 €/MWh on Tuesday, HUNGARY: 473,3 €/MWh today, from 544,73 €/MWh on Tuesday, SPAIN: 472,97 €/MWh from 544,98 €/MWh, PORTUGAL: 472,97 €/MWh from 542,78 €/MWh, ITALY: 463 €/MWh from 587,67 €/MWh, FRANCE: 462,3 €/MWh from 540,66 €/MWh, BELGIUM: 457,55 €/MWh from 461,95 €/MWh, GERMANY: 446,25 €/MWh from 487,57 €/MWh, ROMANIA: 439,68 €/MWh from 540,29 €/MWh, NETHERLANDS: 432,22 €/MWh from 443,32 €/MWh, GREECE: 331,3 €/MWh from 426,9 €/MWh, BULGARIA: 331,3 €/MWh from 429,29 €/MWh, POLAND: 166,79 €/MWh today, from 171,9 €/MWh on Tuesday.
