Electricity prices are at risk of exploding: “It will be the most difficult week of the year”

Electricity prices are at risk of exploding: “It will be the most difficult week of the year”

Add to that the pressure put on the network by France, which is experiencing problems with its nuclear fleet, and the cocktail is perfect. Sunday, we still paid 433 euros per megawatt hour of electricity at peak times. An amount that could triple this Monday, says Het Nieuwsblad. “This will be the hardest week of the year“, according to traders interviewed by the Flemish media.

As a reminder, it is possible that Belgium will also have to import electrons, especially since Tihange 1 will not restart before December 14 at the earliest. However, there is no question of talking about a problem in sight in terms of security of supply, we are assured at Elia.

For specialist Matthias Detremmerie, broker at energy supplier Elindus, the week could indeed be the worst of the year. Some scenarios evoke a price of up to 1,500 euros per MWh during the evening peak, between 6 p.m. and 8 p.m….

It will be freezing cold for the next few days, with temperatures down to minus five degrees. And that also means that electricity prices will rise sharply. While last month, during peak hours, the average price of electricity was still 238 euros per megawatt hour (MWh), this same price rose to 552 euros per MWh last Thursday. The worst-case scenario therefore does not rule out a tripling of this amount.

Matthias Detremmerie points out the very bad timing of this polar wave. “The cold snap doesn’t come at the right time. These temperatures, lower than those initially expected, will remain for a few more weeks, and the lack of wind is not helping us. I think this situation will last more or less until the holidays. The forecasts are then better. The only way to face this increase: to consume less”, he advises…

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