The price of electricity in international markets increases 100% after Russia's invasion of Ukraine
Russia's attack on Ukraine has also significantly affected electricity prices. In the markets of the region, there is a hundred percent price increase, if we compare it with the month of February, before Russia's attack on Ukraine.
Based on the Hungarian power exchange HUPX, which is also a reference for the import of electricity in Kosovo, during the month of February, before the Russian attack, the price was around 250 euros per megawatt for electricity at the peak time, which is mainly bought by Kosovo, meanwhile, now the average price is around 500 euros per megawatt.
These negative moves have corresponded with the deterioration of our situation. It has caused the demand for electricity consumption in Kosovo to increase significantly. Since the demand exceeds the local production, then we must necessarily import the required amount from abroad.
Any increase in demand under these circumstances, i.e. each megawatt that is added to the system, must be provided by the import of electricity, which at current prices is very unfavorable, even when compared to the first two months of this year, when a falling prices was marked.
Therefore, in these circumstances, the saving of electricity and its rational use by all consumers is welcome. By doing so, everyone would greatly help the electricity system in Kosovo to cope with this created situation as easily as possible.
The coordination of joint actions between the actors of the system and consumers, that is, the joining of forces for the common good makes each crisis much easier to overcome.
This saving is vital to happen during the next few days when low temperatures are expected, while after a few weeks, with the passing of winter, the temperatures will increase and the consumption of electricity will decrease, and it is possible to be covered by local production.