The explosion in prices, which were around 85 euros per megawatt hour (85.1 dollars) a year ago, is due, among other reasons, to the decrease in the shipment of Russian gas to Europe since the war in Ukraine.
Many thermal power stations in Europe use gas to generate electricity. As the natural gas available is less, its price is also at record levels.
To this is added that on Tuesday, the Dutch TTF contract pricea reference for the European natural gas market, closed the day with an advance of 10.02% to 321.41 euros per MWh, although it has not yet reached its historical maximum of 345 euros, which was reported in March, shortly after the invasion of Ukraine began.
In France, the closure of nuclear reactors due to corrosion problems, especially, also boosted the price record. Only 24 of the 56 French reactors are working at the moment.
The specter of a total cut off of Russian gas
The countries of the European Union (EU) they are implementing energy saving and sobriety plans, such as turning off illuminated signs at night, given the risk of cuts in the boreal winter.
Europe is also experiencing with particular stress the announcement of a complete suspension of gas supply from Russia via North streaming 1 for a period of three days, from August 31 to September 2
“It is necessary to carry out its maintenance every 1,000 hours” of operation, the Russian gas giant said last Friday. Gazprom in a statement announcing the temporary closure of the gas pipeline.
After this period, the flow of 33 million cubic meters of gas per day will be restored, according to Gazprom, which, however, is only 20% of its capacity.
Source: Ambito
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