The European Union is promised a “vertical” rise in electricity prices by winter

MOSCOW, Sep 2 — PRIME. By the end of 2022, electricity prices in the European Union may increase by 12-15 times compared to the level at the beginning of the year, Izvestia was predicted at the Russian Chamber of Commerce and Industry (RF CCI). Business representatives confirmed the relevance of the forecast to the publication.

According to Dmitry Polokhin, executive secretary of the committee for energy strategy and development of the fuel and energy complex of the Chamber of Commerce and Industry of the Russian Federation, the forecast is based on an analysis of historical data. Since on September 1 the price was already about 400 euros, then, based on the fact that in past years electricity has risen in price several times against the backdrop of a cold snap, in December the price in Europe can reach 1,500 euros.

According to the Nord Pool exchange, in January 2022, the average price of electricity in the European Union was around 90 euros per 1 MWh. But, according to Andrei Romanchuk, Deputy Chairman of the Supervisory Board of the Reliable Partner Association, in December it may rise to 1,500 euros.