Croatia recorded Southeast Europe’s largest weekly increase in average day-ahead electricity prices in the week to November 1, according to weekly market data. The average rose 14.30% to €270.92/MWh, an increase of €33.89/MWh, despite higher renewable output and lower net imports.
Variable renewable generation increased by 86.1%, mainly because of higher wind generation, while hydropower generation fell by 34.05%. Electricity demand rose 1.00% over the same period.
Net electricity imports contracted by 45.85% to 82.01 GWh. Even with the rise in renewable output and reduction in imports, Croatia’s wholesale price increased more sharply than prices in neighbouring markets.
The price premium over Greece widened to €15.88/MWh from €7.61/MWh the previous week. The divergence indicates that neighbouring market prices and the value of specific delivery hours can outweigh domestic renewable generation totals in weekly price movements.
The available information does not provide an hourly breakdown of Croatian import costs or identify the precise effects of congestion and market coupling. Higher renewable generation volumes do not necessarily mean lower or more stable realised market prices for renewable investors.
