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Electricity crisis in Europe: Prices increased eightfold in Germany

By admin, Kasım 11, 2024






Electricity crisis in Europe: Prices increased eightfold in Germany



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The inability of renewable energy sources to produce enough electricity in Europe has caused electricity prices to skyrocket. The fact that wind power plants came to a halt made it necessary to produce energy with gas. Germany‘and electricity pricesduring peak hours eightfold increase showed. Experts emphasize that this situation is an important warning sign for the region.

Wind and sun stopped, prices skyrocketed

Pan-European energy exchange North PoolAccording to , on Wednesday, November 6, wholesale electricity prices in Germany were instantly updated in the evening hours. 805-820 euros per MWh reached its levels. According to the NordPool exchange, this price between 18.00 and 20.00 broke the record of recent years and was at the peak of the energy crisis. Reminds me of the 2022 period. The main reason for this price increase was the windless weather conditions throughout Europe. Current annual average prices are more than twice as high as 2020.




Electricity crisis in Europe: Prices increased eightfold in Germany



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This weather phenomenon is called ” in GermanDark calmIt is called “” due to the static state of high pressure systems. The winds have weakened considerably During this period, wind energy production in Germany was almost zero. In this period Production of solar energy also decreased. According to data from the Fraunhofer Institute for Solar Energy Systems, wind energy production in Germany is on average annually from 32 percent to 7 percent It has fallen as much. a similar situation United KingdomIt also happened in; According to National Grid data, wind energy production in the UK 7.6 percent dropped to levels.

gas and coal The demand for power plants increased. Gas electricity generation rose to 60 percent in the UK and 30 percent in Germany; This rate means a threefold increase for Germany. Gas prices in Europe are still more than double pre-crisis levels, causing electricity generation costs to rise. Current gas prices on the TTF exchange have exceeded $460.

“The bell that rings for dreamers”




Electricity crisis in Europe: Prices increased eightfold in Germany



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Bloomberg says Europe is rapidly renewable energy Although it is trying to increase its capacity, it says it is still dependent on expensive hydrocarbons as a reserve. One of the biggest challenges in the region is providing access to cheap and clean energy whenever it is needed.

Vice President of the National Energy Security Fund (NWF) Alexey Grivach The current stagnant atmosphere in Europe, “A bell that reminds European dreamers of the harsh realities of life” He described it as. Grivach, “The lack of wind combined with cold weather in February will have much more serious consequences for the energy system with the current share of wind and solar energy. And even when combined with other negative factors, it will have much more serious consequences.” he said.

Although renewable energy sources are the greatest weapon in the hands of countries to overcome the climate crisis and achieve their targets, it is also very difficult to ensure a stable energy supply. Solar and wind energy are inherently intermittent sources. If there is no wind or sun, there is no energy. For this, it is necessary to store the energy produced during peak production hours. At the same time, the share of nuclear energy in the transition to clean energy should not be forgotten. Countries that are aware of this have already started to develop nuclear power plants again. According to current data, approximately 60 nuclear reactors are under construction around the world, while 110 more reactors are planned to be built. This means that more than 1/3 of the existing power plants will be built.






Source

https://eadaily.com/en/news/2024/11/06/it-doesnt-blow-in-europe-electricity-in-germany-has-risen-eight-times-in-price


https://data.nordpoolgroup.com/auction/day-ahead/prices






















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