Electricity prices in the 10th week of 2023 (March 6 – 12) were reduced in all European markets compared to the previous week, under the influence of a drop in demand and an increase in the production of wind and solar energy. All markets in Southeast Europe recorded a significant price drop, by 17 percent on average.
Serbia recorded the biggest weekly drop in the price of electricity, by 21 percent, followed by Greece, with a 20 percent price drop compared to the ninth week. Bulgaria and Romania recorded a 19 percent drop in electricity prices.
Average weekly spot electricity prices in SEE ranged from 111 to 134 euros per MWh in week 10, with wholesale electricity prices lower in Serbia (111 euros per MWh). Bulgaria and Romania follow with 115.4 euros per MWh.
Italy is the most expensive European market for the third week in a row, at 134.3 euros per MWh, although it recorded a 16 percent price drop. It is followed by Hungary, which recorded a price drop of 21 percent compared to the previous week, to 125.1 euros per MWh.
Average weekly electricity spot prices in Central Europe followed a downward trend, to below EUR 135 per MWh. Germany recorded the lowest electricity price of 119.05 euros per MWh, which is 13 percent less compared to the previous week, as a result of weaker demand on the gas market and stronger wind production.
Switzerland had the highest price in Central Europe – 134.5 euros per MWh, despite falling by 11 percent compared to the previous week. The French market was the second most expensive in Central Europe at 131.07 euros per MWh, due to the decline in French nuclear production, which also affected neighboring markets.