SEE, electricity prices: Floods have doubled the price of electricity in the region

Published on 28. May 2014., News Serbia Energy

On Sunday, electricity prices for day-ahead have risen sharply, but they started to fall. Terrible floods in Serbia, Bosnia and Herzegovina and Croatia have caused an extreme increase in electricity prices in the short-term market.

According to the Budapest Stock Exchange HUPX, the price of electricity on Monday was double compared to the price from the Sunday, and in comparison with the average price in recent months. It’s about the arrangements for the day ahead. On Sunday, the price of MWh of base electricity for day in advance amounted to 25.38 euros, but within 24 hours it jumped to 51.96 euros. Even higher growth rates are recorded in peak power, which from 26.38 euros per MWh jumped to more than 60 euros.

Meanwhile, the price of electricity in the short-term trading on the Budapest Stock Exchange began to fall and the price of base energy today was 36 euros per MWh and peak 40 euros per MWh. The biggest factor that contributed to the growth of energy prices are floods in Serbia that threatened the three largest power plants in the country, one near Belgrade, Svilajnac and Kolubara. Only TE “Nikola Tesla” near Belgrade, which due to floods works with a minimum capacity normally covers about 54% of Serbian electricity consumption. Serbian media report that the renewal of some flooded open pits may take up to a year, while some will optimistically continue their work in a few months because everything is literally swimming in the water. Under the water is also mine Kreka in Tuzla.