The energy trading markets of Germany, France, the Netherlands, Belgium and Luxembourg are to be coupled from January 1, 2009, according to today’s Het Financieele Dagblad.
The paper says the energy ministers of the five countries are to sign a memorandum of understanding in Luxembourg today which will create a single West European energy market.
Hans Grünfeld, director of the Dutch commercial energy users’ association VEMW told the FD: ‘The integration of these five countries via a joint trading market in electricity will be a breakthrough. As a result I expect prices differences in Germany and the Netherlands to flatten out.’
German power prices are around 15% to 20% higher than those in Holland. Grünfeld estimates that every euro difference in price between Dutch and German prices generates a cost advantage to the Dutch economy of €100m.
‘An integrated regional market will lead to more liquidity in the market and lower wholesale prices in the Netherlands,’ Richard de Lange, chairman of EnergieNed told the FD.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation