Russian invasion in Ukraine results in soaring natural gas prices
Russian invasion in Ukraine results in soaring natural gas prices
  Economy

Russian invasion in Ukraine results in soaring natural gas prices

The increase in the price for electricity is also due to the large reduction (almost 50%) of production from renewable sources.
RE+D magazine
25.02.2022

Electricity prices increased sharply following the Russian invasion in Ukraine resulting in a subsequent rise in gas prices.

The price of electricity on the Greek Stock Exchange was at 235.5 euros per megawatt hour and has been increased by 34% relative to a day before, but it is not a record as in previous months it was formed at higher levels.

Respectively, the price of natural gas on the TTF platform of the Netherlands is today at noon at 120.9 euros per megawatt hour, increased by 36.1%.

The increase in the price for electricity is also due to the large reduction (almost 50%) of production from renewable sources that is expected today Friday compared to yesterday as the gap is covered by the most expensive gas units.

It is been reminded that today the Crisis Management Committee under the Minister of Environment and Energy, Costa Skrekas, will be holding an extraordinary meeting following the developments in Ukraine.

The meeting will be attended by the Secretary General of Energy and Mineral Resources, Alexandra Sdoukou, the President of the Energy Regulatory Authority, Athanasios Dagoumas, the President and CEO of PPC, George Stassis, the Managing Director of DESFA Maria Rita Galli.