Bulgaria, Greece: Rising electricity contract prices for April

, SEE Energy News

Bulgaria’s state-owned Marica Istok 2 coal-fired power plant (ME2) announced electricity sales for the second and third quarters of 2022 on Friday.

Greek network operator DESFA could request additional LNG supplies due to a potential interruption in Russian gas supplies, the energy ministry said.

Low precipitation is forecast for Bulgaria and Greece next week.

Price starters

High gas prices are raising the Greek contract for the month ahead from week to week.

The Bulgarian 3 MW framework for the third quarter of 2022 was traded on Thursday at a price of 268 euros per MWh.

The Greek framework of 3 MW was also contracted for the third quarter of 2022 at a price of 285 euros per MWh.

Market overview

Traders expect volatility in the gas and electricity markets to continue to affect Bulgarian wholesale prices.

Greece’s demand for electricity could fall in April due to warmer weather and Easter, according to a local source.

He adds that gas prices will be the main driver of electricity prices in Greece.

Key basics

The Bulgarian block of thermal power plant Galab’s 343 MW lignite is in unplanned overhaul until April 2, according to ENTSO-E data.

In Greece, below-average wind strength is expected in the 15th week, according to the forecast of MetDesk.

News

Bulgaria’s energy regulator and local participants discussed ideas for improving the local electricity market, the regulator said on March 30th.

Greece has prepared a plan for uninterrupted energy supply in case of interruption of Russian gas supplies, the energy ministry said on Wednesday.

The state-owned company DEPA Commerce will monitor the availability of LNG on world markets to provide additional supplies as needed, according to the statement.