For the third month in a row, wholesale electricity and gas prices have been declining. This follows official data from the Hellenic Energy Exchange and the Dutch Gas Hub, which is used as a benchmark for transactions between energy companies.
Six days before electricity suppliers to announce competitive prices for April, the market “beeps” about a slight downward trend in the cost of a kilowatt-hour. Prices on the Greek Energy Exchange in first two weeks of March are on more low level compared to the corresponding period in February. Today and yesterday, average electricity prices fell below 100 euros per MW⋅h (€89.74 – €97.42 per MW⋅h). The next day (tomorrow) the average price will increase again, approximately at the level of 132 euros per MWh.
But even in the previous days of March, the price range was from 106 to 160 euros per MW⋅h In the first two weeks of February, prices on the wholesale electricity market ranged from 137 to 168 euros per MW⋅h
Energy companies talk about price normalization trendsobserved since January of this year. In the first month of 2023, the average price on the Hellenic Energy Exchange closed at 191.79 euros per MWh, and in February at 156.24 euros per MW⋅h, while in December 2022 it was 276.89 euros per MW⋅h
Price for natural gas TTF follows a similar downward trajectory. In the last month of last year, price fluctuations ranged from 85 to 140 euros per MW⋅h, then in January the cost fell to 65-68 euros, and a few days ago it even fell to 42-43 euros per MWh. However, in the last three days, prices have risen slightly – from 49 to 52 euros per MW⋅h
According to the preliminary assessment of electricity suppliers, prices in April for the population should be slightly lower than in March.
However, the energy market, according to experts, remains unstable, and any factors can lead to shocks. With regard to the subsidy, the average price for residential consumers, based on current data, is fixed at just under 0.20 euros per kilowatt-hour (competitive tariffs).
The government is likely to provide a subsidy for April of around €0.04/kWh to set end consumer prices between €0.15 and €0.17/kWh.
More Stories
Fruits and vegetables: imports up 50.2% in April
Greek products on their way to France
Reduced fees for POS transactions, limited bank fees