Hungary, Fall of futures for November by 190 euros per MWh

, SEE Energy News

Electricity imports in the Southeast Europe region in October 2022 increased by 1,100 MW compared to September. Slovenian imports increased by 685 MW and Bulgarian imports by 915 MW, while imports to Hungary decreased by 535 MW. Compared to September, the import of electricity from Austria increased by 650 MW, from Slovakia by 390 MW, and from Italy by 580 MW.

Despite higher imports from the Core region, the difference between the German and Hungarian markets was slightly smaller in October – 41.4 euros per MWh compared to 45.2 euros per MWh in September.

It was also influenced by the average day-ahead closing price of the Hungarian stock exchange HUPX in October, which was almost twice as low as in September, thanks to the drop in gas prices.

Hungarian futures for the month ahead and for the year 2023 during October 2022 recorded an almost linear decline, as a result of the decline in German prices, as well as natural gas prices. Hungarian EEX futures for November 2022 fell by €190 per MWh during October, while the price of Germany’s benchmark Cal-23 fell by €86 per MWh.