Wholesale price levels, significantly increased in recent months, have begun the month of July at an extremely high level of 105.42 euros per MWh, a level expected to persist in coming weeks, which, if so, will lead to further electricity-cost increases for consumers.
Electricity suppliers have activated wholesale cost-related clauses as protection against higher wholesale price levels. Consumers are expected to encounter electricity cost increases in the next round of billing, expected over the next few weeks.
June’s wholesale price level, which averaged 83.47 euros per MWh, compared to 63.16 euros per MWh in May, will impact the next round of electricity bills for households.
The situation is even worse for medium-voltage consumers as June’s 83.47 euros per MWh average will reach close to 100 euros per MWh once extra costs for suppliers are added.
If current wholesale price levels persist for a further week or two, as sector officials have forecast, then the average price for July is estimated to reach 90 euros per MWh, well above the June average.
This would represent a 40 percent increase in the clearing price level over just three months.