Don’t panic: if electricity and gas prices have been increasing in recent days, the situation is not alarming. The fault is an unfavorable weather cocktail which should dissipate quickly.
Gray skies, weak wind and falling temperatures… These weather conditions have a direct impact on the energy market. With little wind and sun, the production of renewable energy is at half mast, while the demand for electricity increases for heating, given the temperatures. Result: prices rise on the wholesale market.
“It is a seasonal and time-limited phenomenon.“, reassures Laurent Jacquet, director of Creg, the electricity and gas regulatory commission. “We are seeing these price increases on the wholesale markets today, for the next few hours, the next few days. But when we look at the futures prices, for the different months of winter and for next year, we have completely reasonable levels.“
Last Tuesday, the price of electricity reached 137 euros per megawatt hour, its highest level since the end of November 2023. On Wednesday, it even climbed to 152 euros. “But this is not a worrying phenomenon“, insists Laurent Jacquet. “This has nothing to do with the crisis and the prices we have experienced in the past“.
Although the month of November is traditionally a more tense period on the energy market, forecasts for the coming months and the year 2025 remain optimistic. The Creg assures that the current increase is temporary and that there is no reason to worry.
energy price cost of energy heating electricity gas
Belgium
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