SEE Region, Noticeable drop in spot prices, to 98 – 133 euros per MWh in the 11th week

, SEE Energy News

The average weekly spot prices of electricity fell in all markets in Southeast Europe in the 11th week of 2023 (March 13 – 19), under the influence of a drop in consumption, as well as a higher production of renewable energy of about 10 percent on average.

Croatia and Hungary recorded the biggest weekly drop in the spot price compared to the 10th week – about 16 percent. In Bulgaria and Romania, spot prices were reduced by 11 percent.

Electricity in SEE was traded in the range of 98 to 133 euros per MWh, and the lowest wholesale price was achieved in Serbia – 98.03 euros per MWh. Bulgaria and Romania follow, with a weekly average of 102.63 euros per MWh.

The spot price in Croatia was 104.01 euros per MWh, in Hungary 107.45 euros per MWh and in Slovenia 108.38 euros per MWh.

Italy is the most expensive European market for the third week in a row, with 133.04 euros per MWh, followed by Greece, despite an 8 percent drop compared to the 10th week, to 111.33 euros per MWh.

The average weekly electricity prices in Central Europe also maintained a downward trend, to below 120 euros per MWh. Germany maintained the lowest weekly spot price – 93.66 euros per MWh, which is a 21 percent drop compared to the previous week, due to weaker demand on the gas market and higher wind production.

The highest price in Central Europe was recorded in Switzerland – 119.76 euros per MWh, despite a drop of 11 percent compared to the previous week.

France had one of the lowest weekly spot prices, at 100.03 euros per MWh, despite the turmoil in the country, strikes, difficult maintenance of nuclear reactors, the increase in the price of LNG and the blocking of some shipments from refineries.

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