Significant wind energy production on Wednesday led to record Romanian electricity exports but a drop in prices on the OPCOM spot market.
The day-ahead market (DAM), managed by OPCOM, is the most important Romanian energy market with a volume covering about 50% of domestic consumption. DAM is a component of the wholesale electricity market in which hourly transactions are performed for the delivery of electricity the next day.
Purchasing suppliers in this market cover the difference in energy needed to supply end consumers, which is not procured through futures contracts.
The average price of electricity for delivery on Wednesday in Romania and Bulgaria was 174 euros per MWh, compared to 207 euros per MWh in Central Europe (including Germany), 213 euros per MWh in France and 230 euros per MWh in Italy.
Although it rose slightly, the price on Thursday in Romania and Bulgaria (194.4 euros per MWh) is also among the lowest in Europe.
Lower prices were recorded only in Norway (130 euros per MWh), Poland (152 euros per MWh), Sweden (159 euros per MWh), Spain and Portugal (191 euros per MWh).
On Wednesday, at 15:30 and 17:00, wind was the leading source of energy with production of over 2,652 MW (compared to the total installed capacity of 3,000 MW), while the share of solar energy reached 500 MW.
Hydropower production amounted to 2,500 MW, which means that with a total national production of 8,300 MW, renewable energy covered two thirds.
This allowed Romania to export over 2,000 MW at these intervals, an unprecedented level in recent times.
Romania exported electricity to Hungary during 23 intervals and to Bulgaria during 17 time intervals.