Analytiker: Europeiske varmepumper sender strømmen til værs

Analyst Tor Reier Lilleholt from Volue Insight points to the heatwave and low wind as the main causes for the soaring electricity prices in Europe. In addition, an increase in the demand for cooling has led to a high consumption of electricity. These factors together are causing the high electricity prices, especially in the evening hours.

Lilleholt also mentioned that European heat pumps have been increasingly installed in households over the past years. These pumps can also be used for cooling when needed. The report also highlights that during summer, an average of 25% of Europe's gas imports from the Middle East were due to heat pumps. Heat pumps require electricity to cool down European households, and when the sun sets and there is no sunlight for solar panels, and windmills stand still, the electricity prices increase.