Romania, The spot price rises again in November, after two months of decline, to 222 euros per MWh

, SEE Energy News

The average price of spot electricity on the Bucharest Stock Exchange increased slightly in November compared to the previous month, reaching the level of a year ago.

In November 2022, the average closing price of the day-ahead market (DAM) of the OPCOM stock exchange was BGN 1,093 (EUR 222) per MWh.

The price in November slightly increased compared to October, from (206.3 euros) per MWh, by 7%. This was influenced by a noticeable increase in prices in the last few days of the month when spot prices across Europe again started to approach high levels of around 360 euros per MWh.

Thus, in November the price increased after two consecutive months in which a decrease was recorded. Before that, the prices continuously increased for several months, reaching a record 2,400 BGN (about 487 euros) per MWh in August, which is the historical maximum at OPCOM. The current price is at a similar level recorded a year ago, in November 2021.

The electricity spot market in Bucharest is connected to markets in Hungary, the Czech Republic, Slovakia, Austria, Poland and Germany. In October last year, the spot market in Bucharest was connected to the Bulgarian market through the same mechanism.

The Romanian spot market is very liquid – for example, in October 2022, according to the latest available official data, about 44% of the country’s total consumption, i.e. about 1.77 TWh of electricity, was traded on DAM.

The official monthly report for November should be released around December 10.