September 22, 2023

Taylor Daily Press

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Electricity prices in Belgium break the record again

Electricity prices in Belgium break the record again

The price of Belgian electricity reaches a new record. The lack of wind and new warm temperatures arriving next week are driving up prices even more.

wafersource: BELGA

A trader confirms today/Sunday that an average of €561.94 per megawatt-hour was paid in the wholesale market to keep the light in our country on Monday. It’s a new record. Thus, the previous record on August 17 (541 euros per megawatt-hour) did not last long.

The underlying causes are the same. Record natural gas prices, the collapse of several French nuclear power plants, and the falling water level. In addition, there is a lack of wind on the European continent and temperatures will return to 30 degrees in the coming days, which means that more people will turn on the air conditioning, for example.

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 conclude a new energy contract on the commercial market in August can expect an unprecedented record price. For electricity, the estimated average annual bill comes to 2,154.58 euros, and natural gas to 3,791.10 euros. This was evident this week from the figures for the Flemish power regulator VREG.

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