Prices on the Hungarian day-ahead market fell between February 17 and March 3, thanks to a drop in demand and balanced supply conditions.
The average day-ahead baseload price on weekdays fell by around 30 euros per MWh in the seventh week, reaching its lowest level since the beginning of the year – 116 euros per MWh, according to HUPX exchange operator data.
Spot prices stabilized at around 150 euros per MWh in the eighth week, while the price on March 3 was 147 euros per MWh. Prices fell thanks to a 5-degree rise in average temperature, which had an impact on consumption.
On the supply side, the outage of the 500 MW reactor at the Paks nuclear power plant due to maintenance was offset by strong solar generation.
Prices have risen in parallel with the drop in temperatures, and at the same time solar production is also falling, while the 400 MW cogeneration power plant is closed for maintenance.
On the other hand, the gradual decline in transit demand from the Balkan region affected the decline in cross-border trade.
The prices of futures contracts on HUDEX continued to fall continuously. The baseload price for the month in advance fell by 8 euros per MWh until the end of February, and by an additional 10 euros after switching to contracts for April, ending on March 2 when the price was 127 euros per MWh. The premium compared to the German market was reduced below 15 euros per MWh.
The price for the next quarter fell below 134 euros per MWh. The contract for next year recorded the biggest drop, by 16 euros per MWh, to 153 euros per MWh, maintaining the premium compared to the German Cal 2024 at the level of around 10 euros per MWh.