The European energy crisis is also affecting Kosovo
All of Europe is entering a deep energy crisis. As the old continent faces an extremely hot summer, with high temperatures breaking records every day, the demand for electricity has automatically increased. In addition to this increase, there is a large decrease in rainfall, significantly below the seasonal average, causing the production of electricity from the power plants to be much less than usual.
The drought, the inability to transport coal to some power plants via rivers in Germany, and the malfunctioning of nuclear power plants, which are cooled by water coming from rivers in France, made the situation even more critical. In addition to this situation, record prices of natural gas are also observed in Europe due to the gradual decrease in the flow of gas from Russia.
The increase in demand on the one hand and the decrease in production, on the other hand, has caused electricity prices to soar across Europe.
The energy price for a day earlier on the Hungarian-HUPX exchange, which was 295 EUR/MWh for the week of July 4-10, rose to 348 EUR/MWh for the week of July 11-17 and to 419 EUR/MWh for the week of 18 - July 24. For the first 3 days of this week, the price is 506 EUR/MWh. In fact, these days the record has been broken, reaching at one point over 735 EUR/MWh.
This situation has also affected Kosovo. Besides the enormous prices, the need for electricity has also significantly limited commercial opportunities. In the tenders that we have held recently, in most cases we have not accepted any offer. In the event of an offer, extra high prices are displayed according to market conditions.
The creation of these situations in the summer causes a very uncertain situation. Therefore, in these circumstances, we ask consumers to create savings mechanisms and to direct the heating of their living spaces from alternative forms for the winter season. Taking these actions significantly reduces the need for imports and increases the security of supply at the same time, which depends a lot on the stability of local production.