Electricity prices in the Netherlands and Belgium skyrocketed last week to their highest levels in years. The cause? A combination of extreme heat, increased use of air conditioners, a decline in solar and wind energy production during the evening hours, and gas-fired power plants having to supplement electricity demand for short periods. According to Hans van Cleef, Managing Director and Head of Research at EqoLibrium, this is not a one-time occurrence. “This is a structural trend to which the energy system will have to adapt.”
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