Hard Brexit may cut energy prices, growth is expected now
Hard Brexit may lead to stagnation of wholesale power prices on the markets. The prices of power commodities could even fall. “There is a certain assumption that the European economy is reaching the end of the growth cycle and the recession, possibly even crisis, may follow in regard to the general development. In combination with hard Brexit, the power prices growth may stop and stabilize, or prices may even decline,“ a specialist in electricity purchase at Stredoslovenska Energetika Marian Rosinec told the portal vEnergetike.sk. The wholesale electricity price traded for 2020 delivery has started climbing again since the end of June. It forms a third of the final electricity price paid by Slovak households. Stredoslovenska Energetika says that the outlook for the further development of electricity prices in Slovakia, or in central Europe, is not pleasant for consumers. “The development of commodities together with the political development indicate no space for a price decline,“ Rosinec added. The current wholesale electricity price is reaching roughly 52 euros per 1 MWh. Rosinec expects the price to exceed 60 euros per 1 MWh in the near future.
Full story in Slovak: Tvrdý Brexit môže znížiť ceny energií, zatiaľ sa však očakáva ich zdražovanie