Romania, Average annual spot price EUR 263.7 per MWh in 2022

, SEE Energy News

The average weighted price on the day-ahead market in Bucharest in 2022 was BGN 1,303 (EUR 263.7) per MWh, according to data from the energy exchange operator OPCOM, published on the exchange’s website.

Given that in 2021 the average weighted price was only 539 leva (109 euros) per MWh, this means that last year the spot price on the market in Bucharest increased 2.4 times.

The spot price varied significantly throughout the year, taking into account the monthly averages. The lowest average monthly price was achieved in April – about 862 BGN (174.5 EUR) per MWh, and the highest in August, with a monthly average of 2,400 BGN (485.8 EUR) per MWh. It was the highest monthly spot price in the history of the market, and August also saw the highest daily spot price of all time – electricity for delivery on August 26 cost BGN 3,461 (around EUR 700.5) per MWh. At the same time, it was the highest price in Europe.

After August, prices fell sharply, reaching a monthly average of only 1,016 leva (205.6 euros) per MWh in October, before rising slightly in November to 1,093 leva (221.5 euros) per MWh, and in December the average price was BGN 1,219 (EUR 247).

The spot market in Romania is very liquid – for example, according to the latest available data, in November 2022, 2.12 TWh of electricity was traded on DAM, which is about 51% of the total consumption in the country, and the value of transactions was 486 million euros.