June 5, 2023

Taylor Daily Press

Complete News World

A new record rise in Belgian electricity prices

A new record rise in Belgian electricity prices

The price of Belgian electricity exceeds 600 euros per megawatt-hour for the first time. This is evidenced by the data from the Epex Spot electricity exchange.

For electricity supplied on Tuesday, the average price on Monday is 603.38 euros per MWh. This immediately breaks the new record for Sunday – 561.94 euros. The highest level before that – 541 euros – was only on August 17.

The basic reasons are the same. The price of electricity was raised due to the price of gas in Europe, which has been historically high since the outbreak of the war in Ukraine. But lower water levels and many decommissioned French nuclear power plants are also driving up prices even more. In addition, there is a lack of wind on the European continent and temperatures will return to 30 degrees in the coming days, so that more people, for example, turn on the air conditioning.

Due to high prices in France and Germany, electricity is exported in large quantities, which has led to high prices in our country.

Historically high prices for electricity and natural gas are reflected in the household bill. Anyone who has to sign a new energy contract in August can expect an unprecedented record price. For electricity, the estimated average annual bill rises to 2,154.58 euros, and natural gas to 3,791.10 euros. This was shown last week from the figures for the Flemish Vreg power regulator.