Despite the high price paid by ordinary Belgian consumers, who are often tied into expensive variable price contracts, the "day-ahead" price of electricity will be almost free on New Year’s Eve, according to the Epex spot electricity exchange’s daily survey.
For electricity delivered on Saturday, the average price in Belgium will be €5.76 per megawatt hour (MWh). The most expensive time on New Year’s Eve will be between 18:00 and 19:00 (€27.93), while the price during the last hour of the year should amount to just €0.13 per MWh.
The daily price of electricity on the spot market has been falling for several consecutive days, thanks in particular to a record amount of wind energy generated in recent days. In addition, the very mild weather and slump in commercial activity during the Christmas holidays also play a role.
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Wholesale consumers of energy, such as industry and energy distributors, will benefit from these prices. Consumers are unlikely to see any significant change in their bills, at least for now.
The average daily price this Saturday will be the lowest of 2022. On 31 December 2021, electricity was slightly more expensive. The day-ahead price on this day was, on average, €9.68 per MWh. In contrast, a peak of €700.41 per MWh was recorded in August.
On Saturday, the price of electricity in Belgium will also be the fourth lowest in Europe.
Unusual warmth
Belgium's weather forecast for the new year weekend is unseasonably mild, though will have plenty in the way of rain. While most of the country was drenched on Friday, winds will grow stronger throughout the day and evening.
On Friday night in the Ardennes (usually the coolest area), temperatures will not fall below 9°C and the average national temperature will be 13°C.
For New Year's Eve on Saturday, Belgians can expect more rain although conditions should dry out a little in the evening. Temperatures will remain pleasant, reaching highs of up to 17°C.
For the first day of 2023, Belgians will wake up (or go to bed) colder than the previous days, with temperatures between 10 and 13°C.
