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Wood pellet market is stable during the period from May till October 2015 in Austria. Despite the beginning of the fall heating season, pellet prices changed insignificantly, settling at 229,2€ per ton.
As a fuel type, wood pellets have been available in Austria since 1997, and there have been no significant price fluctuations since then. Currently new tasks are set for the pellet producers: to ensure pellet production using exceptionally sustainable and tested raw materials in compliance to the new requirements by RHI. It may bring about some challenges for the producers and influence the final prices. But according to the estimates conducted by Austrian Society for Environment and Technology, under different circumstances of energy industry development and price fluctuations, heating systems powered with light heating oil and pellets will definitely pay back. Lately more than 400 pellet plants were started in Europe, while in Austria the manufacturing volume of wood pellets doubled. This provided a reliable logistic system, which ensures pellet prices stability in the regions.
The pellet prices stability make this type of fuel a reliable energy source both for industrial consumption and residential heating purposes. The prices for different fuel types are often interdependent and in the most cases are imposed by the oil prices. However, at a time of recent oil price fluctuations, pellet prices remained stable in Austria.
According to analysts of The Ukrainian Biofuel Portal pellets-wood.com, wood pellets are considered to be an efficient energy option not only due to their price stability, but also due to the fact that they are much more affordable, as compared to other fuels. In the terms of energy value, wood pellets estimated to be at level of 5 euro cents per kWh as of 2015, and, thus, take leading positions along with firewood and wood chips. Traditional fuel sources yield the positions to renewable ones. Oil and gas figures are constantly changing, and even taking into account current decline in prices, they are at level over 7 euro cents for kWh. In terms of percentage ratio, pellets are 31.5% more affordable option than oil and 44.8% cheaper than natural gas.
In October the wholesale prices on wood pellets didn't change, as compared to September prices in Austria, and remain stable under €230. Prices on 15-kilo sacks rise insignificantly, by 0.9%, comparing to September figures, and currently are approximately at €3.87 for a sack. The prices on wood pellets have been stable for 5 months by now and are at 22.9 eurocents per kilogram.
When comparing current pellet prices to those of the corresponding period of 2014 in Austria, The Ukrainian Biofuel Portal pellets-wood.com points out a dynamics for scaling down. In October 2014 the price on pellets was at 24,5 euro cents per kilo, which is one and a half cent higher than current figures. As for percentage ratio, there is a significant difference of 6,5%.
An abrupt price fall took place in spring period 2015. In April the prices on pellets decreased by 1.4 euro cents, or by 5.7%, per kilogram.
The spring prices fall is attributed to seasonality on the pellet market due to their wide-spread consumption for heating purposes. There exist so called "special storage offers" on behalf of pellet producers and suppliers, which result in price decline by about 10% in the period from April to May. This provides the producers with an opportunity to save money on the storage expenses and to carry out an optimal vehicles utilizing. But season price fluctuations also suggest leap in prices, caused by the beginning of the heating season in fall. However, pellet prices didn't rise in fall 2015, beginning with June they stabilized at 22,9 euro cents per kilogram instead and these prices have been true by now.
Traditionally pellet prices in Austria are compared to those of neighboring countries: Germany and Switzerland. No considerable changes are observed here in October, as compared to September, prices remain stable. In Germany the price is at about €233 per ton, which means rise by 0.3%. In Switzerland pellet prices boosted by 1% and now are at €348 per ton.
RHI (Renewable Heat Incentive) is an initiative, supported by the EU member states' governments; it was adopted in 2011. This initiative aims at renewable energy sources development for heating purposes with the highest efficiency for consumers and environment.
ÖGUT (Österreichische Gesellschaft für Umwelt und Technik) – Austrian Society for Environment and Technology is a non-profit organization, created as a scientific base for environmental development. It was founded in 1985 with an aim of confronting a crisis, induced by the environmental collapse contrasted with economic growth.
