Electricity prices setting new records in European countries — TASS

Electricity prices on the day-ahead market with delivery on July 28 are record high again in certain European Union’s member-states, according to Nord Pool electricity exchange data.

In particular, prices surged to 455.07 and 463.83 euro in Eastern and Western Denmark respectively, 430.68 euro in Latvia and Lithuania, 497.53 euro in Austria, 412.38 euro in Belgium, 473.25 euro in Germany, and 425 euro in the Netherlands.

Electric power prices are surging next to the rise in natural gas prices. The gas price in Europe climbed above $2,300 per 1,000 cubic meters for the first time since March 8 of this year during the trading session.

Gazprom reported an involuntary shutdown of one more gas turbine engine at the Portovaya compressor station due to ended time to overhaul. Russian gas deliveries over the Nord Stream dropped to about 20% of the pipeline’s maximal capacity.