Significant deceleration of the price for electricity is recorded for today according to the data of the pre-day market of the energy exchange. Specifically, the average price for today Monday is 199.91 euros per megawatt hour, compared to 278.85 euros last Monday, October 10. Overall, since Friday the price of electricity has decreased by 25 % (from 266 to 199 euro per megawatt hour). It is noteworthy that the previous working day when a price lower than EUR 200 was recorded was Thursday 19 June (at EUR 167,41).
The - relative to previous months - reduced prices so far in October probably mean that the nominal electricity tariffs for November, which will be announced next Thursday 20 October, will be correspondingly reduced and thus the need for subsidies on bills will be lower.
The average market price for electricity so far in October is 266.73 euros per megawatt hour, while the average price for September was 416.87 euros and 436.53 euros for August.
The price decrease for today Monday is attributed to the combination of the decline in the international gas price with high production from renewable sources. The price of gas on Friday on the Dutch market fell during trading below 140 euros per megawatt hour. For this reason the price of electricity is currently below 200 euros per megawatt hour in most European countries.
As regards RES, the share in meeting domestic demand is currently 62.4 % (68.1 % including hydro and RES of Crete). Similarly, the share of natural gas decreases to 11,1 % and that of lignite to 4,4 %. It is indicative that according to Wind Europe's data, the share of wind alone in meeting demand yesterday Sunday was 58 %, second Europe-wide after Denmark which reached 113 %.
Mr. Voutsadakis
