Britain importing record amounts of electricity from Europe
Britain is importing record amounts of electricity from Europe to keep the lights on, as the shutdown of coal and nuclear power plants puts more pressure on the grid.
Todayโs electricity prices in Europe vary significantly, with the highest being in ๐ท๐ธ Serbia at โฌ0.142/kWh.
Other countries with high rates include ๐ต๐ฑ Poland at โฌ0.14/kWh and ๐ธ๐ฐ Slovakia at โฌ0.133/kWh.
Conversely, the lowest electricity price can be found in ๐ณ๐ด Norway (Mid) at an exceptionally low rate of โฌ0.002/kWh.
Overall, Northern Europe, especially Norway and Sweden, tends to have the most affordable electricity, while some Eastern and Southern European countries experience higher rates.
Price area โ โฌ/kWh | Avg. | High | Low | |
---|---|---|---|---|
#1 ๐ท๐ธ Serbia | +44,9% | 0.142 | 0.315 | 0.091 |
#2 ๐ต๐ฑ Poland | +53,3% | 0.140 | 0.348 | 0.090 |
#3 ๐ธ๐ฐ Slovakia | +38,1% | 0.133 | 0.310 | 0.090 |
#4 ๐ญ๐บ Hungary | +38,3% | 0.132 | 0.310 | 0.090 |
#5 ๐ง๐ฌ Bulgaria | +36,7% | 0.132 | 0.310 | 0.090 |
#6 ๐ท๐ด Romania | +36,7% | 0.132 | 0.310 | 0.090 |
#7 ๐จ๐ฟ Czech Republic | +38,0% | 0.130 | 0.303 | 0.090 |
#8 ๐ฌ๐ท Greece | +43,2% | 0.130 | 0.310 | 0.084 |
#9 ๐ญ๐ท Croatia | +35,8% | 0.130 | 0.291 | 0.090 |
#10 ๐ธ๐ฎ Slovenia | +35,0% | 0.129 | 0.286 | 0.090 |
#11 ๐ฎ๐น Italy (Calabria) | +17,1% | 0.129 | 0.177 | 0.101 |
#12 ๐ฎ๐น Italy (Centre-North) | +17,1% | 0.129 | 0.177 | 0.101 |
#13 ๐ฎ๐น Italy (Centre-South) | +17,1% | 0.129 | 0.177 | 0.101 |
#14 ๐ฎ๐น Italy (Sardinia) | +17,1% | 0.129 | 0.177 | 0.101 |
#15 ๐ฎ๐น Italy (Sicily) | +17,1% | 0.129 | 0.177 | 0.101 |
#16 ๐ฎ๐น Italy (South) | +17,1% | 0.129 | 0.177 | 0.101 |
#17 ๐ฎ๐น Italy (North) | +21,1% | 0.128 | 0.177 | 0.101 |
#18 ๐ฆ๐น Austria | +34,1% | 0.127 | 0.281 | 0.090 |
#19 ๐ฉ๐ช Germany | +34,7% | 0.126 | 0.290 | 0.090 |
#20 ๐ฑ๐บ Luxembourg | +34,7% | 0.126 | 0.290 | 0.090 |
#21 ๐ฉ๐ฐ Denmark (East) | +111,8% | 0.125 | 0.276 | 0.090 |
#22 ๐ฉ๐ฐ Denmark (West) | +76,8% | 0.124 | 0.270 | 0.090 |
#23 ๐ณ๐ฑ Netherlands | +31,1% | 0.121 | 0.270 | 0.083 |
#24 ๐ง๐ช Belgium | +27,8% | 0.116 | 0.196 | 0.089 |
#25 ๐ช๐ธ Spain | +50,0% | 0.109 | 0.161 | 0.084 |
#26 ๐ต๐น Portugal | +49,8% | 0.109 | 0.161 | 0.084 |
#27 ๐ซ๐ท France | +35,7% | 0.108 | 0.161 | 0.084 |
#28 ๐ช๐ช Estonia | +523,3% | 0.105 | 0.298 | 0.006 |
#29 ๐ฑ๐ป Latvia | +523,3% | 0.105 | 0.298 | 0.006 |
#30 ๐ฑ๐น Lithuania | +523,3% | 0.105 | 0.298 | 0.006 |
#31 ๐ธ๐ช Sweden (South) | +1858,7% | 0.102 | 0.285 | 0.007 |
#32 ๐ธ๐ช Sweden (Mid-South) | +1671,0% | 0.086 | 0.242 | 0.006 |
#33 ๐ณ๐ด Norway (South) | +79,5% | 0.067 | 0.145 | 0.040 |
#34 ๐ซ๐ฎ Finland | +642,1% | 0.063 | 0.180 | 0.003 |
#35 ๐ณ๐ด Norway (East) | +439,8% | 0.043 | 0.090 | 0.012 |
#36 ๐ธ๐ช Sweden (North) | +525,6% | 0.026 | 0.059 | 0.003 |
#37 ๐ณ๐ด Norway (West) | +325,5% | 0.019 | 0.029 | 0.009 |
#38 ๐ณ๐ด Norway (North) | +135,9% | 0.010 | 0.018 | 0.003 |
#39 ๐ธ๐ช Sweden (Mid-North) | +144,4% | 0.010 | 0.022 | 0.002 |
#40 ๐ณ๐ด Norway (Mid) | -47,4% | 0.002 | 0.010 | 0.000 |
#41 ๐จ๐ญ Switzerland | n/a | n/a | n/a |
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Europe's electricity market is characterized by a diverse array of energy sources. The main source of electricity across the continent varies by region, reflecting different geographical and economic factors.
In many European countries, nuclear energy and natural gas are significant contributors to the electricity mix. Renewable sources like wind, solar, and hydroelectric power are also rapidly growing, reflecting the continent's commitment to sustainable energy.
Renewable energy is increasingly prominent in Europe's energy landscape. Countries are investing in wind farms, solar panels, and hydroelectric plants to reduce carbon emissions and combat climate change.
This shift towards renewables is driven by both environmental policies and technological advancements. European nations are leading the way in developing and implementing green energy technologies.
Following EU regulations, a significant number of households in Europe have installed smart meters. These devices provide detailed information on electricity usage, measuring consumption on an hourly basis.
Smart meters enable consumers to adjust their energy use in response to real-time data. Many European households have electricity plans that are linked to the current spot price, allowing them to benefit from hourly price variations.
Most European countries are part of a shared electricity market, which is facilitated by extensive interconnections between national grids. This integration allows for the efficient distribution of electricity across borders.
These connections enhance the reliability of the electricity supply and promote the use of renewable energy sources. They allow countries with excess renewable energy to export it to regions with higher demand, optimizing the use of green energy across the continent.
Europe faces challenges in balancing its energy supply, particularly with the variable nature of renewable sources. Ensuring a stable and continuous supply of electricity is a key focus.
Investments in energy storage technologies and grid modernization are critical in addressing these challenges. These advancements will enable Europe to maximize the benefits of its diverse energy mix.
kWh stands for kilowatt-hour, and is a unit that tells how much energy is used in one hour. Kilo means a thousand. So for example, if you have a 1000 watt oven on for one hour, you have used 1 kilowatt-hour. For a light bulb, which may only consume 10 watt, it will take 100 hours (just over 4 days) before you have used 1 kWh.
Most electricity companies in Europe buy electricity on a common market place, such as Nord Pool. All power plants that produce electricity and electricity companies that supply electricity to homes and businesses meet there. Based on supply and demand, prices are set for each hour and each area, one day in advance. Some countries, such as Norway, are divided into several different price areas, each of which has its own spot price.
Supply and demand determine the price of electricity in Europe. If there is a high production of electricity from power plants and demand is low, the price will fall. If, on the other hand, the production of electricity is small and demand is high, prices will increase. Therefore, the price of electricity is often highest in winter, as the need for electricity for heating is highest.
Heating certainly uses the most electricity, closely followed by hot water and charging electric cars. Electrical appliances such as TVs, mobile phones and computers use very little electricity in relation to heating.
All prices are current open market spot prices in the day-ahead segment without local vat, tax or other additions.
Timezone is Central European Time (CET) with Daylight Saving Time (DST). Current time: Mon, 04 Nov 2024 14:18
Data source is ENTSO-E