Southern Europe’s electricity prices up to five times higher
Electricity prices in Southern Europe are up to five times higher than those in Scandinavian countries and nearly double compared to Central and Western Europe, according to an analysis by Eurelectric.
Eurelectric, the European electricity industry association, attributes the large price disparities to a reduction in cross-border energy flows. According to its analysis, electricity prices had neared pre-crisis levels by April. However, they surged over the summer due to increased demand, rising natural gas prices, and reduced cross-border energy flows. These factors have led to stark price differences across the EU, with Scandinavian countries averaging below 20 euros per MWh, Central and Western Europe between 60-80 euros per MWh and Southern and Eastern Europe exceeding 100 euros per MWh.
Wholesale electricity prices in Greece followed a similar trend, reaching 98.89 euros per MWh in June, 135.18 euros per MWh in July and 129.83 euros per MWh in August.
[AMNA]
