European Energy Exchange report highlights the price of electricityOctober 9, 2012
European Energy Exchange sheds some light on the issue of energy prices
The European Energy Exchange has released a report showing the results of the peak-load and base-load day-ahead energy prices in Germany and Austria for the month of September. The report shows that the price of electricity in both countries continue to be lower than that in Switzerland and France. Germany is experiencing a great deal of price difference, in terms of energy, than France is seeing, largely due to the countries adoption of clean energy systems.
Germany boasts of more affordable energy
The report from the European Energy Exchange notes that the energy prices experiences by these countries are roughly the same 75% of the time. During periods of low energy demand, however, Germany pulls ahead in the race for affordable electricity. In some, very rare cases, electricity in some parts of Germany can actually be free during low-demand periods. During these periods, Germany’s powerful clean energy systems are enough to handle the full demand for electricity in some parts of the country.
Germany experiences largest difference in energy prices
According to the report, the average price difference amongst the countries in September was 4%. The European Energy Exchange notes that Germany would see significant drops in the price of energy frequently, however, increasing this price difference to 18%. The report has drawn attention to where countries like France and Switzerland get the majority of their energy and whether this source of power is financially viable.
Nuclear energy may not be as beneficial as thought
France receives approximately 75% of its energy from nuclear power plants riddled throughout the country. Nuclear energy is often considered one of the most economic sources of energy, but the report suggests that this may not be the case. Germany has been aggressively phasing out its use of nuclear energy in favor of solar and wind power. The country has managed to find economic success where others claimed it would find nothing but failure.