Belgian electricity prices drop to lowest level since May

The latest figures for Belgian electricity prices were released on Tuesday by EPEX SPOT, showing that they are currently at €51.05 per MWh – the lowest level since the end of May when they stood at €39.61.

On Tuesday, the European electric power exchange EPEX SPOT unveiled its latest figures for the wholesale price of electricity in the final month of 2022, a year marked by exponential rises in energy prices due to the war in Ukraine.

These figures indicated that Belgian electricity prices are at €51.05 per MWh, their lowest level since 27 May when they stood at €39.61.

This decrease in prices can be attributed to both an increase in the production of wind energy, as well as the closure of many companies for the Christmas holidays. Furthermore, temperatures remained relatively mild throughout the month.

This will come as welcome news to Belgian households, given the chaotic changes electricity prices went though throughout the year. For comparison, prices had reached a peak of €561.94 per MWh in August of this year, as a result of the energy crisis and the heatwave that engulfed Europe during the summer.

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