Romania, The spot price fell below 50 euros per MWh on Monday

, SEE Energy News

Christmas holidays, warm weather and a reduction in electricity consumption in the economy caused Romanian production to overtake domestic consumption. Romania exported an average of over 1,600 MW per hour.

The price of electricity for delivery the day after Christmas, on Monday, December 26, fell by 48 euros per MWh (234 BGN). In the interval from 4 to 7 am, the price on the day-ahead market, managed by the OPCOM exchange, fell to 20 euros per MWh.

This means that on Monday the spot price is four times lower than the average of the previous month. In November, the average price at the day-ahead closing of the market was around 220 euros per MWh, while the average in the first 11 months is 267 euros per MWh.

Warm weather and low demand due to the Christmas holidays meant that overnight consumption between Sunday and Monday fell below 4,500 MW, while daytime peaks during the winter reach close to 11,000 MW.

The drop in the price of DAM, on which the amount that covers half of domestic consumption is traded, was recorded in conditions of low production of renewable energy. At 11 a.m., of the total production of 5,350 MW, only 400 MW were produced by solar and wind power plants.

Hydropower had the largest share (over 1,800 MW), followed by nuclear energy (over 1,400 MW). Hydrocarbons and coal contributed 800 MW each.

The price in Romania was one of the lowest in Europe, while the highest price was recorded in Greece – 198 euros per MWh.

On Monday morning, Romania was a net exporter of electricity to Moldova (via Ukraine), Bulgaria and Serbia and a net importer on interconnection with Hungary.