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Electricity prices in Belgium at lowest level since May

The Belgian wholesale price for electricity reaches its lowest level since the end of May. This is shown by the data of the electricity exchange Epex Spot. For electricity supplied on Wednesday, the average price on Tuesday is 51.05 euros per megawatt hour. This is the lowest level since May 27, when it was 39.61 euros. The price of gas today is at the level of before the war in Ukraine around 80 euros per megawatt hour.

The price of electricity on the Belgian market is at its lowest level since the end of May. The price of electricity will be equally negative. Large customers, such as energy-intensive companies, receive between 3 and 4 hours 88 cents and between 4 and 5 hours 8 cents per megawatt hour they consume.

Among other things, sufficient wind energy and the fact that many companies are closed during the Christmas holidays contribute to the low prices. In addition, the temperatures in Belgium will remain relatively mild for the time of year in the coming days.

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

After prices had fallen again in recent months, there was a new flare-up in the middle of this month. The freezing cold, a lack of wind and the ongoing problems with the French nuclear power plants pushed the Belgian electricity price to a new peak of an average of 467.15 euros per megawatt hour on 13 December.

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