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    Cost of electricity set to double by 2030

    © Belga
    The cost of electricity will double by 2030.
    © Belga

    The phasing out of nuclear energy in favour of renewable energy production will double the costs of electricity by 2030. This is per an EnergyVille investigation produced upon the request of Febeliec, the federation of industrial electricity consumers.

    The continued operation of the two nuclear power stations in Belgium for slightly longer than anticipated could slightly mitigate this cost.

    Febeliec is declaring, “Electricity will become very expensive.” The energy transition will have an annual increase of 4.38 billion euros, or 50 euros in additional costs per megawatt hour, by 2030. Working with the current price of 40 to 50 euros per megawatt hour, the price will double. If nuclear power stations continue through to 2030, the increase will be 700 million euros.

    These additional costs are accounted for by the intended necessary new investment in wind and solar power, as well as the cost of electricity and natural gas imports.

    Christopher Vincent
    The Brussels Times