The sky-high electricity prices will last until the weekend.
But this year’s winter will not be a repeat of the energy crisis in 2022.
– The conditions are different now, says electricity market analyst Christian Holtz.
A quiet Germany is believed to be the culprit in the electricity price drama – where the price on Wednesday afternoon was 167 times more expensive in the south than in the north.
– The prices we see now will probably last until Friday, says Christian Holtz, the electricity market analyst.
Even worse when the cold comes
The rest of December, on the other hand, will offer lower electricity prices, especially during the Christmas and New Year holidays when electricity use decreases. But despite the fact that the last month of the year does not seem to get any more shock prices – there is still a risk of more increases during the winter.
– If it gets cold and windless during January and February, the prices will go away again. Probably to levels like today or even higher, says Christian Holtz.
However, the coldest months of the year will not be a repeat of the electricity crisis in 2022, according to the analyst.
– Now gas prices are lower on the continent and we have also had good hydropower production, which is positive. If there is a lot of water, electricity prices are not depressed and they can remain at a low level, says Christian Holtz.
Turn up the heat when electricity is cheaper
To keep the electricity bill down, flexibility is the key word. One way to do this is to lower the indoor temperature, but above all it is about making energy more efficient and using electricity at cheaper times of the day.
– It is important to be aware of when using electricity. Using electricity during hours with lower prices can make a big difference. For example, you can raise the heat considerably during periods of lower electricity prices, says Christian Holtz.