As the report published by Renantis on energy price trends shows, climate change continues to have a major impact on energy prices. In fact, although the fall in electricity and gas prices has intensified in March and European countries are working to secure the coming winter, the concern is that new and steep price rises will arrive well before the cold season.
The current situation, in terms of costs, is much better than in 2022. In March, the Single National Price (PUN) fell to its lowest level since September 2021, reaching EUR 136.38 per MWh and following a trend common to electricity prices on the main European exchanges.
Despite the downward trend, forecasts for the summer of 2023 call for caution. For Europe and the Mediterranean region in particular, another extreme season is in store in terms of temperature, drought and hydro availability. Like last year, lower hydropower production in spring and summer will lead to higher electricity prices.
The winning strategy to act on energy supply and minimise energy consumption is to be efficient.
Sources: renewables.co.uk