In Week 38 of 2024, electricity prices in the Southeast European (SEE) market declined compared to the previous week. This drop was influenced by lower weekly average prices for gas and CO2 emission allowances, a decrease in demand, and an increase in solar energy production across most markets. Notably, all electricity prices in the SEE region fell, except for Italy, which saw a rise of 3.42%. Hungary and Romania experienced the most significant price reductions at -26.07% and -17.48%, respectively, followed by Bulgaria and Serbia with declines of -16.00% and -11.24%.
In Central Europe, weekly average spot electricity prices also decreased. Prices ranged between €43 and €89/MWh, with Slovenia being the most expensive at €88.61/MWh, albeit a slight decrease of 1.24% from the previous week. France had the lowest prices in the region at €42.86/MWh, down 16.57% from Week 37.
Throughout September, European weekly averages hovered around €85/MWh, with prices varying from €42.86/MWh in France to €111.60/MWh in Italy. In the Iberian Peninsula, prices were high, with Portugal at €73.42/MWh and Spain at €73.40/MWh.
In the southern European markets, all SEE countries except Italy and Greece reported prices below €100/MWh, ranging from €60 to €112/MWh. Turkey had the lowest weekly average at €59.96/MWh, followed by Croatia at €90.23/MWh. Italy recorded the highest average price in the region at €111.60/MWh, while Greece was next at €102.83/MWh, down 7.01%.
Electricity demand in the SEE countries decreased by 5.60% compared to Week 37, totaling 15,079.99 GWh, as average temperatures dropped. The most significant demand reductions were in Greece and Turkey, with decreases of -8.55% and -7.64%, respectively.
Renewable energy output also saw a decline, with total generation from variable renewables in SEE dropping by 13.6% to 2,362.85 GWh. Wind power production fell by 18.8%, reaching 1,241.68 GWh, significantly affected by low wind speeds, particularly in Italy and Hungary. Solar output decreased by 7.0%, totaling 1,121.17 GWh.
Hydropower generation also dropped by 9.65% to 2,298.53 GWh, primarily due to lower output in Italy and Turkey. However, countries like Hungary, Bulgaria, Romania, and Serbia recorded increases in hydropower generation.
Thermal power generation remained stable, with a slight increase of 0.43%, totaling 7,502.74 GWh. This stability was marked by a decrease in coal-fired generation by 0.65% and a rise in gas-fired generation by 1.40%. Notably, Bulgaria saw a significant increase in both coal and gas generation, while Turkey experienced declines in both sectors.
Regarding cross-border electricity trade, net electricity imports across the SEE region fell by 12.09% to 1,147.46 GWh. While exports increased to 138.83 GWh, imports decreased by 9.8%, totaling 1,286.30 GWh. Serbia and Turkey recorded the most significant declines in net imports, while Greece, Croatia, and Italy saw increases in their net imports. Romania shifted from a net importer to a net exporter, reporting exports of 137.50 GWh.
