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The price of electricity breaks a record on the markets

2021-11-24T19:05:08.083Z

Part of this surge is due to the overheating of gas prices and the ton of CO2 on the European market.



Under the effect of the winter cold wave that hit France, the price of electricity on the French wholesale market broke a new record on Tuesday.

The price per megawatt hour for Thursday delivery exceeded 300 euros, crushing the previous record which only dated back to October.

It has reached a level not seen in more than nine years, according to Bloomberg.

Read also

Electricity: winter under "particular vigilance"

"We are on a bit of a cold winter that, if gas and CO2 prices were not so high, would have gone unnoticed on the electricity market"

, analyzes Emeric de Vigan, founder of Cor-e, Services Society.

Indeed, part of this surge is due to the overheating of the price of gas and the ton of CO2 on the European market, which has an influence on the price of the electron.

Gas returned to its highest levels in October and the ton of CO2 broke a current listing record on Wednesday, at 72 euros per ton.

Contingencies

Not all European countries are experiencing a price surge as strong as that which France is going through. The cause is a sharp increase in French demand this week due to the cold snap (40% of households heat themselves with electricity), while the production of nuclear power plants remains low for the season. EDF's maintenance schedule was disrupted due to the spring 2020 containment, which postponed the winter period of reactor shutdowns scheduled for warmer seasons. Next, EDF was forced to extend certain reactor outages due to unforeseen circumstances.

Faced with the surge in prices in recent months, the government has decided to cut taxes next February, in order to protect households.

There is another damper, partial: the regulated price of electricity of nuclear origin, sold to suppliers at the fixed price of 42 euros.

However, since the volumes sold are not sufficient to meet demand, electricity suppliers are also obliged to supply themselves on the markets.

Source: lefigaro

All business articles on 2021-11-24

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