There is no need to say, the weather trend of recent days had nothing to do with stability in Belgium. Between the heavy precipitation, the gray skies, the fairly low temperatures, the cruel lack of sunshine and the weak wind, it is not surprising that energy prices have increased significantly in the country over the past week.
Many households fear that these rates will remain high for the rest of the winter. According to the Creg, this is only of a temporary crisis which should soon dissipate, giving way to slightly more affordable prices for the rest of the season.
Is there reason to worry about the evolution of energy prices in the coming months?
It is important to emphasize that weather conditions have a direct impact on the energy market. With very little wind and sun, renewable energy production stagnates, while demand for gas and electricity is skyrocketing to meet the needs of consumers, given the significant drop in temperature in recent days. Result: prices rise significantly on the wholesale market.
According to Creg, the Electricity and Gas Regulatory Commission in Belgium, this unfavorable situation for households should dissipate quickly and there is nothing alarming about the rise in prices in recent days. “It is a seasonal phenomenon and limited in time,” reassured Laurent Jacquet, director of Creg. “We will see these price increases on the wholesale markets today, for the next few hours and the next few days. But when we look at the futures prices for the different winter months and for next year, we observe quite reasonable levels “, he added in a reassuring tone.
Increases in energy prices have always occurred in November
Last Tuesday, the price of electricity reached 137 euros per megawatt hourits highest level since the end of November 2023. On Wednesday, it even climbed to 152 euros. “But this is not a worrying phenomenon,” insisted Laurent Jacquet. “This has nothing to do with the crisis and the prices we have experienced in the past,” he clarified.
If the month of November is traditionally a more tense period on the energy market, forecasts for the coming months and for the year 2025 remains optimistic. The Creg assures that the current increase is temporary and that there is no reason to worry.
