Montenegro: EPCG to launch...

According to Milutin Djukanovic, the Chairman of the Board of Directors at Montenegrin...

Hungary: Paks nuclear power...

Hungary's only nuclear power plant, Paks, operated by the state-owned energy company MVM,...

Croatia forms working group...

The Croatian Ministry of Economy has formed a working group on nuclear energy,...

Bulgaria: TPP Maritsa East...

State-owned thermal power plant Maritsa East 2 reported a remarkable surge in electricity...
Supported byClarion Energy banner
HomeSEE Energy NewsRegion: Southeast Europe...

Region: Southeast Europe sees electricity price increases amid rising gas costs

In Week 42 of 2024, electricity market prices in Southeast Europe (SEE) increased overall compared to the previous week, driven by a decline in wind energy production and rising gas prices. Romania and Hungary recorded the largest percentage increases in electricity prices, up 11.27% and 9.01%, respectively. Italy and Bulgaria followed closely with increases of 8.61% and 8.47%. Conversely, Türkiye’s electricity prices dropped by 11.27%, and Greece experienced a slight decrease of 0.67%.

Average spot electricity prices in Central Europe also rose, with prices ranging from €53 to €80/MWh. The Netherlands had the highest price at €80.03/MWh, a 9.08% increase from Week 41, while the Czech Republic followed at €76.75/MWh. France recorded the lowest price in the region at €52.82/MWh, marking a 13.54% rise.

During this period, European weekly averages hovered around €75/MWh, with prices in the French market at €52.82/MWh and in Italy at €116.17/MWh, the latter being the only market exceeding €100/MWh for the second consecutive week. In the Iberian Peninsula, prices were €65.17/MWh in Portugal and €62.41/MWh in Spain.

In the SEE region, all countries except Italy had prices below €100/MWh, ranging from €59 to €116/MWh. Türkiye recorded the lowest price at €59.20/MWh, while Croatia was the second cheapest at €73.33/MWh. Italy’s market had the highest average price of €116.17/MWh, an increase of 8.61% from the previous week. Greece followed with an average price of €78.79/MWh, down 0.67% from Week 41, while Romania was the third most expensive at €78.00/MWh.

Electricity demand in the SEE region increased slightly, rising by 0.81% compared to Week 41, reaching 14,969.44 GWh. While most countries saw higher demand, Greece, Croatia, and Türkiye reported declines. Bulgaria and Serbia experienced the largest demand increases at 7.02% and 4.28%, respectively.

Renewable energy output in SEE surged by 12.5%, reaching 2,656.44 GWh, primarily due to a significant rise in wind generation, which increased by 29.4% to 1,707.51 GWh. Türkiye had the highest wind output increase at 129.4%, while Greece saw a rise of 67.4%. However, Italy, Croatia, and Hungary faced declines in wind generation.

Solar output dropped by 8.9% to 948.92 GWh, with the most significant decreases in Italy and Türkiye, which fell by 30.6% and 11.2%, respectively. Other SEE countries experienced increases in solar production, with Bulgaria achieving the highest output.

Hydropower generation rose by 1.11% to 2,760.12 GWh, mainly due to heavy precipitation in Italy and Romania, which saw increases of 8.63% and 18.47%, respectively. In contrast, Croatia, Greece and Hungary reported declines in hydropower output.

Thermal power generation in SEE fell by 1.5% compared to the previous week, resulting in an output of 6,746.22 GWh. Coal-fired generation increased by 1.35% to 3,406.82 GWh, while gas-fired generation declined by 4.25% to 3,339.40 GWh. Türkiye saw a slight increase in coal generation but a significant drop in gas generation. Bulgaria’s coal and gas generation rose, while Italy’s coal output decreased but gas generation increased.

Regarding cross-border electricity trade, net imports in the SEE region fell by 10.58% to 1,097.39 GWh. Exports from the region decreased by 22.0%, totaling 148.88 GWh, while imports fell by 12.1% to 1,246.27 GWh. Greece and Italy saw significant declines in net imports. Serbia and Türkiye remained net exporters, with Türkiye increasing its exports by 4.79% while Serbia’s exports decreased by 5.75%. Bulgaria maintained its net exporting status but with reduced exports to neighboring countries.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Montenegro: EPCG to launch tender for 240 MWh battery energy storage systems

According to Milutin Djukanovic, the Chairman of the Board of Directors at Montenegrin state-owned power utility EPCG, the company is preparing to launch a tender for battery energy storage systems (BESS) with a total capacity of 240 MWh. The...

Hungary: Paks nuclear power plant achieves fifth-highest production record in 2024

Hungary's only nuclear power plant, Paks, operated by the state-owned energy company MVM, closed 2024 with its fifth-highest production record in history. The plant’s four reactors produced a total of 16,016.6 GWh of electricity, which accounted for nearly half...

Croatia forms working group to explore nuclear energy solutions and future energy strategy

The Croatian Ministry of Economy has formed a working group on nuclear energy, consisting of experts from academia, state institutions, and the energy sector, alongside representatives from the Ministry. Croatia has been a co-owner of the Krsko nuclear power...
Supported bySEE Mining News
error: Content is protected !!