The electricity price on the stock exchanges is currently being driven by the uncertainty of the summer heat and gas. This makes further developments unpredictable and could lead to further price increases in the autumn, EVN spokesman Stefan Zach explains on Tuesday. Experts had initially expected an easing in the summer.
The heat in Europe affects the flow of water in rivers, which directly affects lower electricity production and indirectly problems with coal transport. The cooling of power stations is also hampered by the heat. In France, nuclear power stations produce less – also through repairs and maintenance – according to media reports, electricity is imported from neighboring countries.
Local rivers have low water levels
In Austria, the low level of the inland rivers due to the drought is currently reducing electricity production in the hydroelectric power plant network. “Electricity generation in the power plants is currently below average due to lower water supply, but is within the long-term fluctuation range,” the association said.
However, the listed energy supplier pointed out that a lower water level in power plants does not reduce electricity production to the same extent. The energy yield does not only depend on the amount of water, but also on the head of the power plant concerned.
Historical dimension in price increases
According to Zach, energy markets are currently showing a historic dimension in price increases. Even at night, wholesale prices for electricity on the stock exchanges would no longer fall below 380 euros per megawatt hour. The electricity price index (ÖSPI) calculated by the Austrian Energy Agency also shows the price increase since the beginning of the year: in January the index value was (weighted) 164.62 points, in June it was already 290.58.
Source: Krone
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