Partly due to the use of air conditioners, the gas price has risen by 10 to 20% in recent weeks. The oil price shows hardly any price fluctuations unchanged.
According to analysts, this has to do with the rapid increase that took place after the oil market collapsed due to the corona crisis this spring.
Oil price on the high side
The oil price level reached after that is on the high side, analysts say. Even if this level has been maintained for weeks. Translated into the price of agricultural diesel approximately €0.90 (excluding volume and member discounts).
The corona crisis is far from over and the recession figures are worse than ever. On the other hand, the absence of a new corona wave in China gives confidence in a continued recovery of economic growth worldwide. In recent months, this has already been started cautiously, especially in Europe. This can also translate into increasing energy demand.
Energy sector not in recession
Moreover, Dutch energy companies are the only economic sector not to surrender in the first half of 2020 despite the corona crisis. They even grew slightly in gross domestic product. This is apparent from figures from Statistics Netherlands, which also show that the agricultural sector has contracted much less quickly than other sectors, such as the catering industry, tourism and (commercial) care.
Investing in sustainable energy apparently pays off. According to an extensive survey by energy company Vattenfall in seven European countries, it appears that consumers are even more concerned about climate change than about epidemics such as corona. The overwhelming August heat wave of the moment underlines this feeling once again.
Less solar and more wind energy
But the unprecedented August heat wave, with today's record high minimum temperature for August, will come to an end this weekend. This means that the demand for electricity for air conditioners will fall again. Moreover, the supply of wind energy may increase again in the coming weeks. Although autumn storms are not immediately expected with an average wind force 5, as in February this year. When it comes down to it, wind energy carries much more weight in the renewable energy market than the power production from solar panels, no matter how fast this form of energy production grows.
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