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SEE region: Average electricity price remained below 85 euros/MWh in December

The monthly average prices in December 2023 in the SEE markets were below €85/MWh, except in Greece and Italy. Compared to November, average prices decreased considerably in most of the markets by an average of 20.5%. The exceptions were the Italian market with a decrease of 5.2% and the Greek market with a decrease of 3%. Prices fell in all analyzed markets compared to the same month of 2022.

The highest monthly price was registered in Italy – €115.46/MWh. It was followed by Greece with an average price of €102.20/MWh while the lowest monthly prices were recorded in Turkey and Serbia with an average of €66.79/MWh and €96.10/MWh respectively.

In December 2023, the decline in the average gas prices and the increase in wind energy production led to a year-on-year decline in prices in most European electricity markets.

As European spot gas prices were lower during December affecting wholesale electricity prices, most of the countries adapted their cross-border electricity trade accordingly to meet electricity demand requirements.

Most of the SEE countries increased their electricity imports in compliance with the higher electricity demand.

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