Gas prices are rising due to winter weather conditions and low stocks in European storage facilities.
Electricity prices using fossil sources have become twice as expensive as green. This was reported by the analytical organization Ember in its report. In particular, this is due to the rapid rise in coal and gas prices.
Coal prices in the European Union have risen by more than 70% since January, while gas prices have doubled. Along with increasing carbon quotas by 84% a year, generating electricity from renewable sources has become twice as cheap.
For example, wind turbines in Germany and Italy produce €45.3 / MWh and €46.3 / MWh, respectively, twice as much as fossil fuels. Spain is ahead of both countries – its wind turbines produce electricity for 31.7 euros / MWh, which is three times cheaper than energy from traditional thermal power plants.
The increase in gas prices is explained by weather conditions in winter, which required more gas and low stocks of European storage facilities.
Renewable energy in Europe continued to grow significantly last year, while fossil energy fell to record lows. This is evidenced by data from the European Statistical Agency.