Inter RAO CEO says Europe’s power prices jump 1,000% in 8 months

MOSCOW, Oct 6 (PRIME) – The European electric power prices jumped by almost 1,000% over the past eight months, while the growth in Russia amounted to around 4%, Boris Kovalchuk, CEO of power holding Inter RAO, said on Wednesday at a meeting chaired by President Vladimir Putin.

“The combined growth of prices for electric power in Europe amounted to almost 1,000% as of today. In Russia, the growth is 4%,” he said.

For Thursday, the average price of power in Germany amounted to 302.5 euroes per megawatt-hour (MWh), in France it stands at 298.3 euros per MWh, and in the U.K. it amounts to 320.1 euros per MWh. In Russia the price stands at about 20 euros per MWh, Kovalchuk said.

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