In week 42, European electricity markets prices decreased in most markets, due to high wind energy production, despite geopolitical tensions in the Middle East. The rise in the average price of gas, the increase in demand in most markets and the general decline in solar energy production were offset by higher wind energy production in some countries, which led to varying prices.
Wind production increased considerably on the Iberian Peninsula and in France, leading to lower prices in the MIBEL and French markets. Wind energy production fell in the German market, contributing to the price increase in this market.
In the SEE region, the price of electricity on the exchanges fell in most markets with an average percentage decrease of nearly 4%. Hungary registered the highest weekly electricity price drop by 8%, followed by Croatia which faced an electricity price plunge of 70% compared to week 41. Greece posted an electricity fall of 5%, while Italy and Turkey witnessed electricity price increases by 3% and 2% respectively.
In the SEE region, most countries registered electricity price losses, with all markets posting electricity prices above 100 euros/MWh, with the exception of Turkey. Electricity prices ranged between 77 – 149 euros/MWh, with wholesale electricity prices going lower in Turkey at a weekly average of 77.5 euros/MWh, followed by Hungary, which was seen in week 42 as the second cheapest electricity market in the SEE region, with electricity prices at 105.9 euros/MWh.
Italy was the most expensive country in SE Europe at 149.2 euros/MWh, registering an electricity price jump by 3%, followed by Greece which recorded an electricity price decline by 5% compared to week 41 and reaching an electricity price of 113.3 euros/MWh.