Hungary, Drop in spot price on CEEGEX to 44.4 euros per MWh

, SEE Energy News

The weighted average spot price of gas on the Hungarian CEEGEX exchange continued to fall in the previous week.

This trend started in mid-December last year, when the spot price was 128.5 euros per MWh. Since then, it has lost more than two-thirds of its value, so gas was traded for 42.62 euros per MWh on Wednesday, March 22, according to data from the stock exchange operator.

Since then, the average day-ahead gas price has recovered slightly, to 44.4 euros per MWh on Saturday and Sunday. During most of March, it remained below the threshold of 50 euros per MWh.

On the CEEGEX intraday market, the last transactions were realized on March 25, at prices ranging from 41.3 euros per MWh to 50 euros per MWh.

The reference European contract for the month ahead TTF was traded on Friday for 41.4 euros per MWh. The futures price for the second quarter of 2023 was 41.85 euros per MWh, while CAL24 reached 50.15 euros per MWh, according to data from the ICE stock exchange.

Last week, the TTF index for the month ahead fell on March 20 to 38.9 euros per MWh, the lowest level since July 27, 2021.

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