During Week 35 of 2024, electricity market prices in Southeast Europe (SEE) surged, despite the end of summer and a decrease in heat waves. Key drivers included an increase in the weekly average gas price, heightened demand, and reduced wind energy production in many markets.
In the SEE region, Croatia saw the highest percentage price increase, jumping by 32.7%, followed by Greece with a 19.2% increase. Romania and Bulgaria also saw substantial hikes, with electricity prices rising 17.28% and 17.05%, respectively. Romania posted the highest average price in the region at €152.09/MWh, due to ongoing issues at the Cernavodă nuclear plant. Bulgaria followed closely with an average price of €151.58/MWh.
In Central Europe, electricity prices also increased but remained generally lower than in SEE markets. Slovenia experienced the highest price in the region, reaching €146.11/MWh, an increase of 43.60% from Week 34, while France had the lowest at €78.95/MWh, though this represented a significant 81.70% rise.
Despite the heat waves fading, high prices persisted in SEE due to grid issues affecting several countries, including Bulgaria, Romania, Serbia, Greece, and Hungary. Most SEE countries, excluding Turkey, recorded prices above €100/MWh, with Turkey being the lowest at €67.28/MWh. Italy followed as the second cheapest market at €134.35/MWh.
