- In Germany and France, electricity prices for the year delivered rose on Thursday at double-digit pace. These are the prices that determine the costs of entrepreneurs
- This is a consequence of the lack of gas from Russia. For September contracts for megawatt-hour gas in Europe you have to pay over 300 euros
- In France and Germany, gas is responsible for one-seventh of the electricity produced. It is not much better in Poland
- However, Polish electricity prices are half that of French and German prices. The reason may be its own gas deposits
- You can find more such information on the Onet homepage
You already have to pay for a megawatt hour of electricity in Germany with delivery for next year EUR 725, or 13 percent. more compared to wednesday – reports Bloomberg. Analogous the increase in prices in France was 12 percent. up to 880 euros and that’s about ten times more than a year ago. Companies will buy energy at these prices to a large extent next year, which will translate into the offered prices of their products and services, and thus also inflation.
See also: The Polish giant cuts production. “Record high gas prices”
Electricity prices with delivery for the year in France
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Yahoo Finance
Astronomical growth is being fueled by smaller gas supplies from Russia. And this, in turn, raises the price of gas that supplies power plants on the continent. On Thursday, August 25, gas for September delivery will increase in price in Europe (Dutch contracts) by more than 6 percent. up to 310 euros per megawatt hour. It has never been so expensive in history and has never exceeded 300 euros.
Listing of European gas contracts for September delivery
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ICE
And supplies will be limited even more, because Russia has announced that as of August 31, it will temporarily cut off flows through the Nord Stream 1 pipelinecausing fears that they will not resume, writes Bloomberg.
Every eighth MW of gas
According to data from the European Network of Transmission System Operators on Wednesday in Germany, gas was produced as much as 14.1 percent. electric energy. Without it, you would have to make some serious cuts in power consumption. RES gave 34.7%, hard coal power plants 15.8%, and lignite – 20.6%. Shutdown nuclear power generated 6.7 percent. current. 7.7 percent of the biomass was produced.
See also: The Energy Regulatory Office approved the increase in tariffs. What about the gas price?
In the case of France on Wednesday, gas was 13.6 percent. electric energy35.1% from RES, 16.2% from lignite, 12.8% from hard coal, and only 15.7% from nuclear power plants. Biomass gave 6.2 percent.
For comparison, in Poland gas power plants have only a slightly smaller share. On Wednesday, they gave as much as 12.9 percent. current. And the price of the most expensive element in the system, necessary to ensure the operation of the system, determines the price of electricity.
Polish electricity is half the cost of French electricity
However, electricity prices in Europe vary significantly. The next day Polish prices on Thursday are almost half lower than in France and amount to EUR 352.39 per MWh. In France, they exceed EUR 700, and in Germany it is EUR 699. They went up by 100 euros in one day. All because of gas prices. The next day Polish electricity prices went up by “only” 32 euros compared to Wednesday. Apparently, this gas is not so expensive for us because of our own sources.
One day before the UK regulator is due to announce a three-fold increase in household bills from last winter, pressure is increasing on European leaders to alleviate the discomforts facing their citizens.
Author: Jacek Frączyk, journalist at Business Insider Polska