Wholesale prices of electricity on the markets in Southeast Europe in the period from December 5 to 11 recorded significant fluctuations, with some countries reporting gains and others losses. Greece, Serbia, Croatia and Bulgaria recorded a decrease in electricity prices, while Hungary recorded an increase. In Serbia and Greece, the drop in electricity prices is 9% and 8%, respectively, compared to the previous week.
Average weekly electricity prices in Central Europe rose in all markets, except Poland, to over 350 euros per MWh. Prices continued to rise across Europe as the first cold wave hit large parts of the continent. Increases in electricity prices this week far outstripped increases in gas prices, as cold weather and very low wind power production were additional factors in tight electricity supplies.
Electricity throughout the SEE region was traded in the range of 309 to 363 euros per MWh. Wholesale electricity prices in Greece were reduced to a weekly average of €308.95 per MWh as demand for electricity fell, and vegetable production from renewable sources. The Hungarian average weekly price was 362.68 euros per MWh.
