Electricity price in Romania has reached unprecedented levels, with the average spot market price surging to RON 1,175 (EUR 236) per MWh on Wednesday, July 17, and peaking at an RON 4,300 (EUR 865) per MWh for the interval 20:00–21:00, according to data from the energy exchange operator OPCOM.
This makes Romania the country with the highest electricity prices in Europe, alongside Hungary and Bulgaria, where the price per MWh was also close to EUR 230 on Wednesday. Meanwhile, Finland had the lowest price on Wednesday, of only EUR 10 per MWh.
The steep price rise in Romania is attributed to several factors, including weather conditions, high demand, and resource availability.
Energy Minister Sebastian Burduja highlighted the crucial role of renewable energy sources in mitigating these costs. He stated, “If we didn’t have renewables, we would be paying even more.”
