In week 9, European electricity prices increased compared to the previous week due to higher electricity demand. In most European markets, electricity prices oscillated, registering averages higher.
In the SEE region, the price of electricity on the exchanges in week 9 surged in all markets. Hungary and Croatia registered the highest increase by 11% and 10% respectively compared to the previous week, followed by Serbia and Italy which recorded lower gains by 8% and 5% respectively. The rest of the countries registered average electricity price increases of nearly 2%.
Half of the countries registered electricity price gains, with electricity prices below €70/MWh, except Italy and Greece. Electricity prices ranged between €62-84/MWh.
Turkey recorded the lowest weekly average of €62.34/MWh, followed by Serbia which recorded an electricity price of €66.48/MWh. The Italian market registered the highest average price, with an average of €84.11/MWh. It was followed by Greece which recorded an electricity price of €73.02/MWh.
Weekly average spot electricity prices in Central Europe followed an upward trend during week 9. All of the markets posted electricity price growth, as cooler weather led to higher electricity demand and in turn to higher electricity prices in all European electricity markets. Moreover, lower wind energy production supported electricity prices spike.
Electricity markets in Central Europe during the last week of February posted prices between €68-89/MWh. Switzerland was the country with the highest electricity price at €88.86/MWh while the Czech Republic was the cheapest country in Central Europe with an electricity price of €68.17/MWh.
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