Hungarian day-ahead prices remained relatively stable in the period from 21 January to 3 February 2023, thanks to stable domestic demand, low gas prices and balanced supply conditions.
In this period, the average price for baseload on the day-ahead market on the Budapest stock exchange HUPX reached a maximum level of EUR 200 per MWh, but soon retreated to EUR 150 per MWh. The average price in January was 149 euros per MWh.
Domestic electricity consumption increased minimally despite cooler weather compared to the first weeks of January.
On the supply side, net imports fell due to lower imports from the Balkans due to the maintenance of the Hungary-Serbia interconnection.
Transit demand in the Balkan region jumped at the beginning of February, compensated by higher inflows from Slovakia and Austria.
The outage in the Hungarian lignite thermal power plant Matra, with a capacity of 500 MW, was compensated by a relatively high production of solar energy on certain days.
Stable and relatively low gas prices have also helped stabilize futures prices. Base load for the month ahead fell below 150 euros per MWh, before stabilizing at 155 euros per MWh with the shift to March contracts, stock exchange data showed.
The premium compared to the German contract for a month in advance was reduced below 20 euros per MWh.
The base load for the next quarter moved in a similar way, and the contracts were closed at 158 euros per MWh.
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