"In the last six months, the average price of this product has already increased by 150 percent in Portugal. If at the beginning of the year it was possible to buy a 15 kilo bag for around €4, currently, retail areas that already have stocks of pellets to sell are charging prices between €8.99 and €10.99", according to DECO Proteste.
However, this problem is not only in Portugal, it is "transversal to several European countries". The consumer protection organisation recalls that, in Spain, for example, the price of pellets has risen 67 percent since the autumn of last year.
"The growing demand across Europe in recent months may explain the abrupt rise in prices. With winter at the door and problems with continuity in the supply of natural gas from Russia, which is resulting in a high increase in energy prices , European consumers are looking for alternatives to heat their homes", says DECO.
The issue is that the "offer available on the market may not be enough, as imports of wood pellets from Russia and Belarus are prohibited".
Despite the price increase, pellet stoves "still continue to be an economical option for heating the house, although this system may not be ideal for all types of dwellings, since it is necessary to install a chimney", can be read on the organization's website.
"Considering that a 15-kilogram bag of pellets currently costs around €10, we can assume that the price per kilowatt-hour (kWh) will be around 13 cents. This value continues to be lower than the 19 cents per kilowatt-hour for electricity", concludes DECO.