The electricity price remains quite stable this week. In contrast to previous weeks, large amounts of green electricity were generated almost constantly. In addition, TenneT announced that it will significantly increase transport costs again in 2024.
The electricity price last week was almost constant between €90 and €100 per megawatt hour, with the exception of the weekend. Only on Sundays did the electricity price drop below €60. On Tuesday, April 25, the electricity price was still €90,97. One day later (on Wednesday, April 26), the price reached the highest point of the week at €111,04. The electricity price fell sharply over the weekend. On Sunday April 30, the electricity price dropped to €58,76. {{dataviewSnapshot(52_1682928934)}}
Last week the market remained more stable than previous weeks. The tops of around €125 did not occur this week. With the exception of a dip in the weekend, there were also no major downward trends. Throughout the week, a substantial part of the electricity was generated from renewable sources. Solar and wind energy accounted for 43,7% of the energy supply.
In contrast to previous weeks, the times when renewable energy was generated were fairly evenly distributed over the days of the week. Tuesday's higher price was the result of slightly higher production. Only on Friday did production from renewable sources decline. This was also reflected in the price. That day, electricity was traded at a rate of approximately €105,85. The fact that the price is not higher is probably due to lower demand from the business community. Because King's Day fell on a Thursday, many employees chose to take a long weekend off.
TenneT is once again increasing transmission rates
In addition, TenneT announced a plan to increase transmission costs again next year. In 2024, transport rates will increase by approximately 80% to 90%, high-voltage rates will even increase by 120% to 135%. This means that rates will rise more sharply than in 2023. In 2023, transport rates increased by 51% and high-voltage rates increased by 84%. A small SME currently pays an average of €413 in transport costs per year. Next year this rate will increase to €789.
The main cause of the increase in transport costs is the higher purchasing rates for electricity. In the period from 2018 to 2020, purchasing costs averaged €280 million per year. In 2021, these costs rose to €850 million and in 2022 the costs rose to no less than €1,7 billion. In addition, the additional income is used to invest in the expansion of the electricity grid.
TenneT does open the door to a future decline. The grid operator has stated that transport costs will decrease if electricity rates are lower in the future. However, pre-2021 rates are unlikely to return. Although the grid operator cannot yet make concrete statements about the electricity price in the coming years, the rates will remain well above the historical average.