Energy prices are rising all over Europe

Rising energy commodity prices and the unprecedentedly high costs of purchasing CO2 emission allowances in the EU ETS are the main factors that translate into record increases in energy prices on European markets. In the first half of the year, according to Eurostat, the increases affected 16 out of 27 markets. Recent weeks have brought further increases in electricity prices. Some of the countries take measures to reduce them and protect consumers, e.g. lower taxes on electricity. It is possible that the European Commission will also intervene if high energy prices significantly reduce the competitiveness of the EU industry.

According to the Polish Economic Institute, in September the weighted average price of electricity on the day-ahead market was PLN 465.70 per MWh, which means an increase of over 20 percent compared to the price of the previous month and by as much as 91 percent on an annual basis.

"Electricity prices are rising both in Poland and in Europe. We have to get used to it that electricity prices will not be stable," prof. dr hab. Eng. Wojciech Suwała, head of the Department of Sustainable Energy Development at the AGH University of Science and Technology in Krakow, said.

(Newseria)