European Energy Crisis: price per MWh now above 300 EUR in many countries
1–10 of 22 posts
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#2EU commission wanted free market. It will lower energy prices, they said. That worked quite well isn't ?
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#3Self inflicted problems. This is largely a result of an inability to stock and store large amounts of natural gas due to climate change activists getting their way.
Hopefully this coming nightmare of a winter will dispel people of their fantasies about transitioning to a green economy fast.
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#4Interesting why France (with its nuclear power plants) and Switzerland (with hydro) have the highest prices.
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#5EU commission wanted free market. It will lower energy prices, they said. That worked quite well isn't ?
june 2020 had the lowest ever prices. no one was complaining.
in reality these high prices are due to a combination of factors:
- countries reopened after covid at the same time across the planet leading to pressure from asia to europe
- norway’s gas infrastructure works
- cold winter and spring followed by a very hot summer which increased energy demand for heating and AC
- lack of wind in northern Europe meaning burning more coal and gas
- fire at a Russian gas processing plant in August reducing output from Russia to Europe. thus Russia couldn’t fulfil anything more than long-term contracts (no spot)
- Russia’s Putin also has an interest to put pressure on Europeans in order to fast track Nord Stream 2.
- Putin also wants Europeans to rely less on the free market and more on long term contracts, since those disincentivise investments in energy efficiency, diversification, the transition to cleaner energy sources. EU initiatives have also made Europe less susceptible to market manipulation by Gazprom than it used to be. these are big no-no’s for the Kremlin
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#6[deleted]
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#7EU commission wanted free market. It will lower energy prices, they said. That worked quite well isn't ?
june 2020 had the lowest ever prices. no one was complaining. in reality these high prices are due to a combination of factors: - countries reopened after covid at the same time across the planet leading to pressure from asia to europe - norway’s gas infrastructure works - cold winter and spring followed by a very hot summer which increased energy demand for heating and AC - lack of wind in northern Europe meaning bu…
Also I think Norway's reservoir levels are low. Which also affects prices as they are likely to import some energy.
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#8Interesting why France (with its nuclear power plants) and Switzerland (with hydro) have the highest prices.
Most of the energy in France is tied to long term contracts. Spot market prices aren't really meaningful.
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#9Hopefully this speeds up the adoption of solar panels. We have the tech to be less reliant on fossil fuel and ee should be doing that
Re: European Energy Crisis: price per MWh now above 300 EUR in many countries
#10EU commission wanted free market. It will lower energy prices, they said. That worked quite well isn't ?
Even ignoring the fact that this isn't a free market by any stretch, the fact is the EU imposes massive costs which will necessarily be reflected in the price of electricity.
For example, about 60% of the cost of electricity in Poland is tied up in buying carbon credits [1]. Now you may agree with the existence of such a system, but that doesn't make its consequences cease to be.
[1] https://twitter.com/michal_1979/status/1472635201226428416?t...