In week 32, SEE power balance improved as a result of high decrease of consumption. Despite a drop in coal and gas-fired generation, regional exports were the highest since mid-June. Also, the HU-DE spread was the lowest since mid-June and HUPX settled below EPEX-DE in four days of the week. At the same time, wind generation increased sharply.
In week 32, consumption was the main price driver, as it was 3,000 MW lower than in the previous week. Consumption in Greece decreased by 1.254 MW. Consumption drop was also strong in Romania and Bulgaria and IBEX and OPCOM were 100% coupled.
SEE region was the net exporter in week 32 as a result of low consumption. Total SEE export reached 609 MW. This was the best result since mid-June. Exports were 1,540 MW higher than at the same time last year.
As a result, the region settled at 1.4 euros per MWh above EPEX-DE, which is the lowest spread since mid-June.
Fossil generation dropped strongly, but not nearly enough to counter the drop in consumption. Coal fired generation was lower compared to the previous week by 774 MW, out of which the 198 MW drop was in Greece.
Gas-fired generation in the region was expected, as a result of low prices and low clean spark spread.
Wind generation was the highest since mid-May 2023 and 71% higher than in the previous week. The biggest contributor to high wind generation compared to the previous week was Greece, with 861 MW higher wind generation than in the previous week, and Romania, with 129 MW higher wind generation.
Solar generation in the region was surprisingly high in peaks, and higher than in the past two weeks, 115 MW higher in peaks compared to the previous week.
Nuclear generation was lower than expected, due to an outage in NPP Cernavoda. Compared to the same time in 2022, nuclear generation was higher, as NPP Krsko had maintenance last year, but Romanian and Bulgarian nuclear generation was lower this year.
