Higher temperatures and relatively much wind. That is normally a recipe for low electricity prices. Couple that with the long Whitsun weekend and the price should be able to drop significantly. That was not the case last week.
On Wednesday, June 1, the electricity price on the Epex Spot was €215,26 per MWh. The price dropped towards the weekend, but still remained at €146 per MWh during the weekend. Only on Whit Monday did the price fall below €100 to €95,81 per MWh. Today the price has risen again to €183,40 per MWh.
An electricity price of around €200 per MWh is not surprising on weekdays. Gas, coal and emission allowances are very expensive. These elements are decisive on the market if there is insufficient power available from sun and wind. When there is more electricity supply, conventional power stations switch off and cheaper sustainably generated electricity prevails in price formation. This effect was also expected for the Pentecost weekend. Quite a bit of sustainable electricity was still generated on Saturday. Half of that comes from wind and 40% from sun. On Sunday, solar panel production fell sharply due to showery weather. The traditionally lower demand for electricity on Sundays - which causes prices to drop significantly - was largely offset by the disappointing supply.
Speed up
Netbeheer Nederland doubts the feasibility of the climate sprint that the government wants to implement. The organization is pleased with the draft Climate policy program that was sent to the House of Representatives by Minister Rob Jetten last week. The organization is very concerned about the timetable set out. The cabinet will not decide on a possible tightening of the policy program until early 2023. According to Netbeheer Nederland, this is not fast enough to actually start a final sprint. In order to achieve the tightened climate goals in the coalition agreement, the pace must increase, according to Netbeheer Nederland. The Energy Act, Heating Act and the phasing out of the Netting Scheme, among others, require speed.