The purchase price of electricity is rising again. In the week from Monday 27 June to Sunday 3 July, the GME (Manager of Energy Markets) recorded an average electricity purchase price (Pun) equal to 362.05€/MWh compared to 327.54€/MWh in the previous week. The volumes of electricity traded directly on the Middle East Stock Exchange amounted to 4.7 million megawatt hours, and liquidity reached 74.3%. Average selling prices ranged between €361.53/MWh in the Central South, South and Sardinia and €362.25/MWh in the North and Center North.
The market price of gas in Amsterdam continues to rise to 174 euros, an increase of 6.78 per cent. Markets are in turmoil with Russian supplies falling to their lowest levels.
The European Commission is working to reform the energy price system. This was confirmed by competition commissioner Margrethe Vestager for French television microphones Bfm. “We are analyzing whether it is possible to make a different calculation (between gas and other energy prices) to calm this market as long as the war crisis in Ukraine continues,” the commissioner explained, noting how the indexation system was used so far, before the war, “was beneficial” for Europe.
Signs of a slowdown in the European economy, which would push the European Central Bank to a less aggressive policy on interest rates, hit the euro in the markets, which ended at the lowest levels in the last 20 years on the dollar. The single currency thus drops 0.9% to 1.0331, returning to December 2022 levels. According to the operators cited by Bloomberg, the central bank could raise interest rates in a range lower than last week’s expectations. The latest figures from France and Germany are weighing on rising inflation and the war.
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