According to the authors, the dominant factor for power prices is the tightness in the supply of natural gas. Currently, due to the mild winter, gas supplies in Europe are well stocked. The European gas supply stood (Jan. 31, 2023) at more than 73 percent and the Dutch at 69 percent. It also helped that there was relatively high wind last winter.
However, the price of electricity is still some three times higher on average than between 2016 and 2020, according to the report. Van Cleef and Van der Pas warn that the Netherlands is increasingly dependent on international gas prices, so falling prices are no guarantee for the future.
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