June 15, 2024
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SEE Region, Spot electricity prices 95 – 129 euros per MWh in the 12th week

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In the 12th week of 2023 (March 20 – 26), the trend of falling electricity spot prices continued in almost all European markets, except in Greece and Turkey, under the influence of a decrease in demand, as well as an increase in the production of renewable energy in certain markets.

A significant drop in spot prices was recorded on all markets in Southeast Europe, by 8 percent on average. Hungary recorded the largest weekly drop in electricity prices of 13 percent, followed by Croatia with a 12 percent drop compared to the 11th week of 2023. In addition, Bulgaria and Romania recorded an 8 percent drop in electricity prices.

Average weekly spot electricity prices in SEE ranged from €95 to €129 per MWh in week 12, with wholesale prices being the lowest in Croatia, with a weekly average of €91.95 per MWh. Hungary follows with a price of 94.6 euros per MWh.

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The Greek market was the most expensive in Europe last week at 128.6 euros per MWh, recording an increase of 16 percent compared to the previous week. It is followed by Italy, which recorded a price drop of 5 percent, to 126.9 euros per MWh.

The average weekly spot prices of electricity in Central Europe followed a downward trend. Germany achieved the lowest electricity price of 76.2 euros per MWh, which is 19 percent less compared to the previous week, due to weaker demand for gas and stronger wind production. Switzerland had the highest price in Central Europe – 108 euros per MWh, despite a 10 percent drop compared to the previous week.

France posted one of its lowest electricity prices at €81.07 MWh, despite turmoil in the country as strikes against planned pension reforms entered a third week, disrupting nuclear reactor maintenance and raising LNG prices.

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