Region, Increase in the weekly spot price to over 228 euros per MWh

, SEE Energy News

Electricity prices in Southeast European countries rose for the 46th week (from November 14 to 20), as a result of a jump in demand for electricity and an increase in gas prices due to forecast colder weather. Serbia recorded the biggest weekly price jump, by 23.5%, while Hungary achieved an increase of 17.5% compared to the previous week.

Average weekly spot electricity prices in Central Europe rose in most markets to over €180 per MWh, except in Germany (€165.95 per MWh). Slovenia recorded the highest price in this part of Europe – 235.02 euros per MWh, after a percentage increase of 19.5% compared to the previous week.

The average weekly spot electricity prices in SEE recorded a significant increase for the 46th week. Electricity was traded in the range of 228 to 238 euros per MWh, with wholesale electricity prices being the lowest in Bulgaria – 228.32 euros per MWh.

As of November 14, the demand for electricity increased in all markets of Southeast Europe, by 1.85%, to 15,567.2 GWh, as a result of colder weather. The largest increase in electricity demand in SEE was recorded in Bulgaria and Serbia, where weekly electricity consumption increased by 7.8% and 4.6%, respectively, compared to last week.

Also, the demand for electricity in Hungary, Romania and Croatia increased by 4.3%, 3% and 2.9%, respectively. Consumption in Greece increased moderately compared to the previous week, to 860.5 GWh (+2.6%).

In terms of cross-border electricity trade, net electricity imports were 11.1% lower across the SEE region at 1,417.6 GWh, attributed to higher contributions from hydropower and renewables.

The net import of electricity decreased in most markets, with Romania and Croatia recording the largest decline in net import of electricity by 74.5% and 72.6%, respectively. Greece and Serbia reduced cross-border trade by 44.4% and 21.3%, respectively. Hungary recorded an increase in net electricity imports by 9.6%, to 321.6 GWh.

During the 46th week, Bulgaria remained the main electricity exporter in the region with net electricity exports growing by 50.2 GWh (31.1%), to 211.8 GWh, as a result of competitive prices.