The price of electricity in Slovakia is growing at a crazy pace, due to an important limit: In May it was halved!
Energy prices are not slowing down. The price of electricity for Slovakia, with delivery next year, has already exceeded the psychological threshold of 400 euros per megawatt hour on Tuesday, August 2. even to ensure 416 euros/MWh. This follows from data published by the Prague Stock Exchange PXE.
Even at the beginning of May, the price of electricity was at half the level. The price also reaches record levels in other EU countries. Over 400 euros per MWh, the price of electricity also surged in the Czech Republic, record prices were also recorded in Germany and France. The EU energy market is interconnected. Trinity Bank Chief Economist Lukáš Kovanda sees the cause of high prices not only in the war conflict in Ukraine, but also in Germany’s energy policy or extremely dry and warm weather.
“For example, the level of the Rhine river is falling due to drought and lack of precipitation so low that it is before it is closed to freight traffic,” said Kovanda. However, cargo ships transporting coal to German power plants also sail along the Rhine. Due to the low level of this supply, it is currently limited. According to Kovand, it is therefore escalating that the production of electricity will have to be reduced, or it will become significantly more expensive.
The situation is not better even in France, which will be able to reduce the production of electricity in nuclear power plants. Dry and warm weather increases the temperature of the Rhône or Garonne rivers, which limits the possibility of cooling the reactors located along these streams. The reduction of production in French nuclear power plants has increased the price of electricity even more.
Kovanda also sees Germany’s energy policy behind the lack of electricity and its high prices, which gradually shut down its nuclear power plants and, together with the development of renewable resources, gradually deepened its dependence on Russian natural gas. “That has now taken revenge on him, which the government office of (Olaf, note TASR) Scholz admits,” added Kovanda.