The global electricity demand is set to grow slowly this year, the International Energy Agency has predicted. In its annual Electricity Market Report, the organisation expects electricity demand to grow by 2.4% in 2022.
Germany's Vice Chancellor defended the government's commitment to ending the use of nuclear power at the end of this year, arguing that keeping its few remaining reactors running would be complex and would do little to address the problems caused by a possible natural gas shortfall.
Électricité de France (EDF), the French state-backed electricity giant has stated that their chairperson and chief executive, Jean-Bernard Lévy, plans to resign before the completion of his term. Lévy is up for retirement next year.
In Baltic States, as well as countries like Finland, Sweden and Germany, electricity prices have increased by 50%, reaching €164.20/MWh in Latvia and €151.37/MWh in Estonia. In Lithuania the average electricity price reached €164.71/MWh, which is an increase by 41% when compared to April.
The Dutch government is working towards the construction of two new nuclear power plants, according to a national energy system plan outlined recently.
Spain and Portugal have sent their proposal on how to cap the price of natural gas used to generate electricity to the European Commission. The premier said he hopes to get approval from the Commission soon in order to be able to start implementing the plan during the next few days.