In fear of a complete interruption of the supply of Russian natural gas, but also due to the narrow availability of LNG worldwide, fuel prices have skyrocketed.
The crazy course of the TTF is followed by the electricity prices. In the Greek Energy Exchange the price for today 5/7 formed in 323,78 euro/MWh increased by 9% compared to yesterday, while the maximum value was found at 434 euro/MWh or the minimum at 248 euro / MWh. His participation natural gas in the energy mix is at 38,3%, of RES 39%, of lignite in the 13%, of hydroelectric in the 4,9% and 1,7% are the imports.
The powerful companies have launched a barrage of new cargo orders such as DEPA and Mytilineos. The second one is closedslots in Revithoussa both for the2023 as well as for the2024
In addition to the mobilization of available lignite, the Ptolemy 5 power 660 MW is expected to be put into trial operation onAutumn. It is the most modern lignite plant in Europe with a very low carbon footprint 1 ton CO2/MWh relative to 1,6 ton CO2/MWh average emission value of the remaining existing units
The Greek market remains competitive
The prices in the rest of Europe and its market are much higher than in GreeceItaly to reach 418,68 euro / MWh, of Bulgaria and Romania in 347,08 euro / MWh, ofFrance in 371,6 euro/MWh and of Germany in 318,37 euro / MWh.
Among other things, the strike that has been declared by the workers in the energy groups of theNorway, which can reduce by 13% Norwegian gas exports next week, warn analysts, pointing out that the strike comes at a time when Norway has increased its production and deliveries to Europe, replacing some of the loss from reduced Russian gas inflows.
The workers who claim salary increase due to the accuracy they have declared that from today the work on three offshore mining rigs will be suspended, while three more will be closed tomorrow if the negotiations are not successful.
It should be noted that, that one of the largest US LNG export terminals is out of service until October, due to an accident and until the end of the year it is expected that it will be under-functioning.
The FSU of Revythoussa has arrived
In Greece, the Minister of the Environment- Energy Minister Kostas Skrekas after the extraordinary meeting he convened yesterday at the ministry on the adequacy, stated that Greece has the ability to cope satisfactorily with the scenarios of a reduction in the supply from Russia. He added that the country faces fewer risks than other European countries, given the availability of LNG cargoes. In fact, he already sailed to Revythoussa, the warehouse ship liquefied natural gas, which in full development increases the storage capacity of Revythoussa by 145.000 cubic meters.
The minister also stated that DEPA Emporias, like the other gas importers, are in constant communication with their suppliers for additional loads if needed. But as most European importers are constantly increasing their orders, the problem becomes more pressing for everyone, including our country, both in terms of prices and quantities.
According to Mr.. Skreka in case of extreme crisis, Greece, which is in a better position than other European countries, will cover the domestic needs as a priority and will then look at the issue of exports to neighboring countries such as Bulgaria and Romania
The lignites are ready – Diesel for the peak
Meanwhile the available lignite plants of PPC continue to operate with their current production capacity and do not show any shortages. Information says that they are currently operating the mines of South Field and Mavropigi in Western Macedonia and that of Megalopolis. The increase in production at PPC's mines has not yet been reflected in the electricity generation mix,
They are also readyfive power plants which now operate on natural gas fuel and, in case it is needed, they will be able to switch fuel and operate withdiesel.
But these units are only able to operate for 240 hours a year each with diesel and therefore will be used to cover the peaks.
The water reserves for the operation of the hydroelectric units are satisfactory.
Meanwhile in Germany, after the request ofs Uniper, of the country's largest gas importer, for state aid the government is considering a series of legislative interventions, which will allow it to rescue companies in the energy sector. It seems that several suppliers are on the verge of collapse, as they face rising costs that cannot be passed on to customers.
According to Reuters, The German government may take a stake in Uniper as a last resort for the bailout funds the company will need. It is even being considered whether her model could be implementedLufthansa, which received an extraordinary capital boost 9 billion. euros from the government during the pandemic period with the German public taking the 20% of shares of non-voting.
Another measure being considered is to allow the government to quickly impose a special levy on consumers as a means of passing on rising energy costs fairly, government sources told Reuters.
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