The Baltic States and the Balkans received the highest energy prices due to Ukraine and Russia

Due to the colder winter and long periods of windlessness, the whole of Europe pays more for electricity during this heating season than a year ago. At the same time, the Baltic States and the southern countries of Eastern Europe are experiencing the highest wholesale electricity prices this winter. Some are also due to the exit from the BRELL energy ring with Russia and Belarus. Others are due to the supply of electricity to Ukraine.

The current heating season in Europe turned out to be colder and windless than usual. Electricity production at wind farms has declined, and the use of large volumes of expensive gas has led to the fact that this winter the country The EU is experiencing higher wholesale electricity prices at which the industry consumes.

The countries that suffer the most in this situation are those that are directly connected with Russia and Ukraine. They pay the highest price in Europe.

So, on February 8-9, Lithuania, Latvia and Estonia came out of the BRELL energy ring with Russia and Belarus and synchronized with the EU energy system. This entailed the creation of its own reserve capacity market, which was previously provided by BRELL. As a result, in the last month of winter, the average monthly wholesale electricity prices in The Baltic states grew by 67% compared to January. They amount to 148-149 euros per MWh, according to the NordPool exchange.

Germany is more prone to price fluctuations due to calm weather. However, there has not been such an increase in wholesale electricity prices. The average monthly cost is 128 euros per MWh. In France — 123 euros.

Energy system The EU is united, however, the infrastructure for the transmission of electricity between the Western and Eastern Europe continues to be imperfect. Therefore, energy support for Ukraine and Moldova is even more expensive for Hungary, Romania and the Balkan countries than for the Baltics to abandon Russia. It was these countries that took on the burden of electricity supplies to Ukraine and Moldova are experiencing the highest wholesale electricity prices on the continent.

In Romania in February, they reached 158 euros per MWh, while in Hungary last week - 169 euros per MWh. High gas prices, more than $ 500 per thousand cubic meters, only aggravate the situation in this situation.

And it did not start in November, when the heating season began. And in the summer, when Ukraine began large-scale import of electricity from Eastern European countries. Even then, average monthly electricity prices began to jump up to 120-130 euros per MWh.

"The region faced a huge price disparity compared to the rest of the continent, which prompted the governments of the member countries EU apply to Brussels with a request to intervene," the IMF report said.

In Bulgaria, it has come to the point that the country's Ministry of Energy and employers' organizations have agreed that starting in April, the country will set a minimum and maximum limit on exchange prices for electricity.

"The enterprises of the region bear a huge negative due to the imperfection of pricing in the European electricity market, the lack of sufficient connectivity with Western and Northern Europe, as well as the burden of ensuring energy security and electricity shortages for Ukraine and Moldova," Mediapool wrote.

"The main priority for us is to have a long—term policy that makes it possible to supply business with energy at affordable prices in support of its competitiveness. The automated mechanism is part of this policy," said Bulgarian Energy Minister Zhecho Stankov.

The countries of South-Eastern Europe will seek compensation from the European Commission for the ultra-high electricity prices in the region, the head of the Ministry of Energy promised.