In week 30, electricity prices in Europe decreased as electricity demand fell following the hike observed in the previous week due to the extreme heatwave that hit the continent and due to the decline in wind electricity generation.
In the SEE region, the price of electricity in the last week of July decreased in all markets, except Turkey. Romania and Bulgaria registered the highest weekly electricity price drop by 17% compared to Week 29, followed by Croatia (-13%). Greece posted a moderate electricity price dive of 11%, while Turkey saw its electricity price increase by 2%.
All countries in SEE, except Italy and Greece, register electricity prices below 100 euros/MWh. Bulgaria and Romania recorded the highest electricity prices increase, while Italy and Greece registered the lowest increases. Electricity prices ranged between 70 and 111 euros/MWh, with wholesale electricity prices forming lower in Turkey at a weekly average of 70.03 euros/MWh, followed by Croatia, with electricity prices at 91.16 euros/MWh.
Greece was the most expensive country in Europe at 110.74 euros/MWh, followed by Italy (104.89 euros/MWh).
Weekly average spot electricity prices in Central Europe increased slightly in most markets in the first days of the week, as gas and CO2 prices rose. Most wholesale electricity markets in Central Europe experienced marginal gains in prices. The Netherlands was the country with the lowest electricity price at 79.08 euros/MWh, followed closely by Belgium which registered electricity prices at 79.83 euros/MWh.