Energy Price Grows 30% After Russia's Ukraine Attack

Based on the Hungarian HUPX Stock Exchange, which is also referenced to the import of electricity in Kosovo during February, prior to the Russian attack, the price of electricity has been around 250 euros for megawatts for electricity at the peak coca, which Kosovo mainly buys, already averages about 350 euros for megawatts.

These awards are about 7fold higher than those of the same period last year. Consequently, if the Russian conflict continues, the prices are expected to rise further, with the impact on the whole world, and most in Europe. This, as much of the European countries are dependent on Russian gas and already imposed sanctions.

Germany has even banned the construction of the Nord Steam 2 gas pipeline that started from Russia and passed through Germany to supply much of the European countries with natural gas. That project is already expected to declare bankruptcy.

Lack of natural gas supply, these countries use electricity to heat and activate household appliances, which increases demand for it and therefore its price. / P ERISCOPIA