Hungary: Electricity imports fell to a five-month low, SEE Energy News
Hungarian day-ahead power prices stayed relatively stable in the week ending March 31, averaging at its lowest level so far this year falling below 100 euros/MWh. Overall, March day-ahead averaged 113 euros/MWh compared to 149 euros/MWh in January and 146 euros/MWh in February, HUPX data show.
Demand decreased in the week ending March 24 as temperatures rose. As a result, net imports fell to a five-month low, at less than half of last year’s first-quarter average.
In a next week, demand increased slightly amid cooler weather. This was offset by improved supply, including the return of the 400-MW Csepel CCGT unit from maintenance, and net inflows from the Balkan region. Strong net imports from Croatia and Serbia, and a drop in Slovenian exports due to cross-border power line maintenance were the key drivers. Strong solar output also helped stabilize prices.
Forward prices moved slightly higher over the past two weeks. April baseload went into delivery around 111 euros/MWh narrowing the premium over Germany to well below 10 euros/MWh. Quarter-ahead contracts jumped to 143 euros/MWh upon the switch to Q3, HUDEX data showed. Year-ahead base rebounded to 152 euros/MWh by March 30.