Region, Greek agreement for May 2022 remains above the Hungarian one

, SEE Energy News

Gas prices are dominating the Greek electricity contract for the month ahead.

Low precipitation is forecast for 15 weeks in Bulgaria and Greece.

Price starters

If gas prices remain at these levels, the premium for Greece will remain in comparison with the Italian price and the margin above 12 euros per MWh in relation to Hungary, the trader estimated.

With the shutdown of a 1 GW reactor at the Kozloduy nuclear power plant, the IBEX spot is likely to be close to the Romanian market, and Bulgaria will stop exporting at maximum capacity, according to a local participant.

Wind above normal in Bulgaria affected the spot market on IBEX.

Market overview

Low demand and production of renewable sources is expected in Greece in May.

The planned interruption of the interconnection between Bulgaria and Greece for 10 days will affect the growth of prices in Greece.

It is expected that Bulgarian prices in May will be quite close to Romanian ones and 8-10 euros per MWh below Hungarian ones.

Key basics

Bulgaria’s 1 GW nuclear unit will be in the planned overhaul from April 22nd to June 1st, the ESO network operator said.


The Bulgarian government plans to keep its 4.9 GW total electricity generation capacity online and provide 1.4 GW of new renewable capacity combined with 600 MW of storage by the end of 2026, according to an updated version of the national recovery plan. and Resilience (RRP), which should be approved by the end of April, according to a press release issued Thursday.

Large gas consumers in Greece will receive state financial aid of 40 euros per MWh in April, the energy minister announced on April 5th.

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