A partial view of the energy crisis in the Europe

The last energy crisis manifested itself as a rise in electricity prices and an increase in the profits of energy companies. Profits in the energy sector last year were expected to be 150 percent higher than in 2021. In 2021, electricity prices increased by 170% compared to the previous year. In 2022, however 150% against the previous year. Therefore, the end users felt the energy crisis as an increase in their energy costs. The state can only protect small consumers from usury by regulating the permitted prices. Medium and large consumers must understand the operation of the energy exchange and conclude contracts with traders that take advantage of the futures contracts and daily spot trading. To intelligently buy energy on the power exchange, which means buying at the lowest possible prices, customers must be able to predict energy prices on the power exchange and predict their energy consumption. In the article, we present medium-term price forecast on the HUPX exchange for 2023. We also explain the tools for short-term price forecasting for 14 days.