June 15, 2024
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SEE region: Electricity prices ranged €65-113/MWh

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In Week 47, European electricity prices increased, due to higher gas prices, rising market demand and decreased wind energy generation. The 3.6% increase in the average gas spot price compared to the previous week and the general increase in electricity demand exerted an upward influence on prices in European markets, although wind energy helped to push prices below €100/MWh over the weekend.

Photovoltaic energy registered production record for November in the Iberian Peninsula and wind energy in Germany.

In the SEE region, the price of electricity on the exchanges surged, except in Turkey, by 8% on average.

Greece and Bulgaria registered the higher percentage increases of 13% and 10% respectively, with Hungary and Romania approaching closely and reporting percentage electricity price increases by 10% and 9% respectively. 

All countries in SEE registered electricity price gains, with all markets posting electricity prices above €100/MWh, except Turkey. Electricity prices ranged between €65-131/MWh, with wholesale electricity prices going lower in Turkey at a weekly average of €65.02/MWh, followed by Serbia, with electricity prices at €102.2/MWh. The Italian market registered the highest prices among the analyzed markets, with an average price of €131.61/MWh during this week, followed by Greece, which recorded an electricity price of €112.16/MWh.

Weekly average spot electricity prices in Central Europe followed an upward trend in all markets. The tight wind supply and the rising heating demand contributed to this trend. All wholesale electricity markets in Central Europe experienced significant electricity price gains, with most markets posting prices above €100/MWh. Germany was the country with the lowest electricity price at €96.50/MWh, while Switzerland was the most expensive country in Central Europe with an electricity price at €119.28/MWh.

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