June 21, 2024
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HomeUncategorizedSEE region: Electricity prices ranged between 88 and 103 euros/MWh in week...

SEE region: Electricity prices ranged between 88 and 103 euros/MWh in week 22

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Due to increased electricity demand, a decrease in wind energy production and an increase in CO2 emission allowances, SEE electricity prices increased by 2.6% on average in week 22 compared to week 21. From Monday the 27, to Thursday the 30, most markets had their highest prices of the week. After that, prices gradually declined throughout the week, with most days seeing prices close to those from prior weeks. 

Countries with the biggest percentage rises in power costs from the previous week were Italy and Hungary (6.7% and 4.9%, respectively), followed by Greece and Bulgaria (3.1% and 1.8%, respectively).

Except for Italy, most of the SEE countries saw increases in the price of energy, with prices falling below 86 euros/MWh. The price range for electricity was 88–103 euros/MWh.

The weekly average price of wholesale electricity in Turkey was 57.94 euros/MWh, which was lower than the price in Croatia, which was 82.05 euros/MWh and considered the second-cheapest electricity market in the SEE area during the week of May 27.

With an average price of 102.6 euros/MWh in Week 22, the Italian market recorded the highest price among the markets analyzed, up 6.67% from Week 21. Next up was Serbia, with an average price of 86.46 euros/MWh, up 0.83% from Week 21.

Week 22 of 2024 saw a downward trend in weekly average spot electricity prices in Central Europe, in contrast to the SEE region. This decline was caused by more wind energy production and decreased demand in certain markets. Lower pricing in the MIBEL market was partly caused by the Iberian Peninsula’s increased production of solar energy. 

In week 22, electricity prices in Central Europe ranged from 16 to 83 euros/MWh. With an increase of 2.11% from week 21 of 2024 to 82.88 euros/MWh, Slovakia had the highest power prices, followed by Slovenia at 80.59 euros/MWh. 

With an average weekly power price of 16.13 euros/MWh, the French market was the cheapest in Central Europe. Its average weekly electricity price decreased by 55.8% from week 21.

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