In Week 34 of 2024, electricity prices in Southeast Europe (SEE) exhibited mixed trends compared to Week 33. Greece, Bulgaria and Romania saw price increases, while other countries in the region experienced decreases. The price drops were primarily driven by increased wind energy production, lower demand, and reduced average temperatures. Specifically, Italy, Turkey, and Croatia experienced declines of -5.30%, -4.98%, and -3.79%, respectively, while Bulgaria, Romania, and Greece recorded increases of 4.75%, 4.68%, and 3.47%.
In Central Europe, electricity market prices showed varied behavior during Week 34. The general trend was a decrease in prices, though Switzerland, Slovakia, and the Czech Republic saw increases. Contributing factors to the decline included a drop in average weekly gas prices, heightened wind energy production, and increased solar energy output. Prices in Central Europe ranged from €43 to €116/MWh. Slovakia had the highest electricity price at €116.21/MWh, up by 4.35% from Week 33, followed by Slovenia at €101.75/MWh. France recorded the lowest price in the region at €43.45/MWh, a significant decrease of -33.70% compared to the previous week. The European weekly average hovered around €93.31/MWh, with prices ranging from €43.45/MWh in France to €129.68/MWh in Romania. In the Iberian Peninsula, prices were relatively high, with Portugal at €82.60/MWh and Spain at €82.34/MWh.
In Southern Europe, half of the SEE countries saw electricity price decreases, with prices exceeding €100/MWh in all countries except Turkey. Prices ranged from €71 to €130/MWh, with Turkey registering the lowest weekly average at €70.54/MWh. Croatia followed as the second cheapest market in the SEE region at €108.68/MWh. Romania had the highest average price during Week 34 at €129.68/MWh, up by 4.68% from the previous week, followed by Bulgaria at €129.50/MWh, which saw a 4.75% increase compared to Week 33.
