February 1, 2023

Taylor Daily Press

Complete News World

The price of electricity in Belgium is at the lowest level since May

The price of electricity in the Belgian market is at its lowest level since the end of May. As night falls, the electricity price is negative for a while. Large customers, such as energy-intensive companies, earn 88 cents between 3 and 4 in the morning and 8 cents between 4 and 5 in the morning for every megawatt-hour they consume.

Sufficient wind power and the fact that many businesses are closed during the Christmas holidays, among other things, contribute to lower prices. In addition, temperatures in Belgium will remain relatively mild during this time of year in the coming days.

At the end of August, the price of electricity for next-day delivery reached an unprecedented peak of an average of €700.41 per MWh. This was due to record prices for natural gas – due to the Russian invasion of Ukraine – along with, among other things, the closure of several French nuclear power plants, and a lack of wind and heat power.

After prices fell somewhat in recent months, there was a new escalation in the middle of this month. Bitter cold, lack of wind and persistent problems with French nuclear power plants pushed the price of Belgian electricity to a new peak of an average of €467.15 per MWh on December 13.

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