ΠΩΣ ΔΙΑΜΟΡΦΩΘΗΚΕ Η ΤΙΜΗ
- 30 Apr 2023
- economy
The energy market acted as a catalyst for the fall in inflation in March.
The reduction in prices in the wholesale electricity market and by extension in retail resulted in inflation decelerating to 6.4% last month from 6.1% in February.
It is typical that electricity prices decreased by 25.8%, heating oil by 22.1% and fuel and lubricants by (7.2%).
On the contrary, they increased in solid fuels (24%), LPG (16.4%) and natural gas (9.2%).
The weighted average wholesale price recorded a drop for three consecutive months, while weather-assisted energy consumption is also on a downward trajectory.
Specifically, the average electricity purchase price in March, based on the data published yesterday by ADMIE, was 133.761 euros/MWh, from 168.606 euros/MWh in February and 209.558 euros/MWh in January.
These prices cover the total wholesale costs paid by the suppliers for the energy purchase, as they also include the surcharge costs (Balancing Market cost and Discrepancy cost).
It is also worth mentioning that in the first three months of the year, not only the Day-Ahead market but also the Balancing Market moved downwards.
Thus, the total of the three surcharge bills for March amounted to 11,320 euros/MWh, from 12,653 euros/MWh in February and 18,151 euros/MWh in January.
Regarding the course of the demand, it has been continuously decreasing since the beginning of the year after in January it reached 4,144,707MWh, in February it decreased to 3,999,964MWh and in March it decreased even more to 3,908,958MWh.
The continuous drop in demand combined with the increased participation of RES in the energy mix as well as high imports, as is known, worries ADMIE regarding the stability of the system, with the Easter holiday period, where a drop in demand is expected, critical. Currently, the whole situation is being handled with careful management and cooperation between ADMIE and DEDDIE in order to make the necessary cuts in both RES and imports, while the large hydroelectric plants act as balancing factors.
The phenomenon is by no means considered transitory as it is now
electrical system has entered a new period of increased role of RES.
However, the reduction in consumption mainly as a result of good weather conditions means that the goals set by the European Union to deal with the energy crisis have been achieved without the need to take extraordinary measures and without activating the demand reduction mechanism for a fee from industry.
