Rising electricity prices: how much is a megawatt-hour today?

Image created by AI

The average next day market clearing price on Monday is €92.6. In May, the average price was 81.08 euros per megawatt-hour, and in April – 60.11 euros.

High temperatures during this period and increased demand, combined with a reduction in the use of renewable energy sources, as well as gas prices, CO tax² contribute to rising prices. The price on the wholesale market is currently €96.69 per megawatt-hour, representing an increase of 24.64%.

The highest price reached 173.78 euros per megawatt-hour, and the lowest – 61.51 euros. The share of renewable energy sources in the electricity production structure reached 38.19% compared to 32% for natural gas. Imports accounted for 19.25%, and the share of hydropower was 6%.

Both the market and Environment and Energy Minister Theo Skilakakis himself warned that retail prices could rise throughout the summer period, highlighting that the summer could be challenging. And they propose to transfer consumers to six-month fixed tariffs in order to minimize risks.

Already, their prices are lower than those for “green” tariffs, while the price increase for some providers reaches 65%. And even taking into account the fixed cost, which in most cases is close to 10 euros per month, the blue tariff remains an attractive option at the moment.

In the end changing the tariff is a simple process, which can be done entirely digitally, without the need to visit a store. And in accordance with current legislation, the consumer has the right to refuse the choice made within 14 days without any consequences.

If forecasts that wholesale prices will slow in the fall due to high renewable energy production and weaker demand due to mild weather conditions hold true, blue tariffs, which currently appear more competitive than most feed-in tariffs, could end up being more expensive. However, consumers who switch now will benefit, and if they decide to cancel early, the clause they will pay will decrease as the months go by that they remain on the same contract.

More information about “Color Tariffs” can be found in the following publications:

• What you need to know about colored electricity tariffs: what will happen to those who do not choose a category
• Electricity bills: providers’ war for the “blue” tariff
• “Colored” electricity bills

Source link