Due to unstable gas prices and increased electricity demand during a heatwave that affected much of the SEE region, SEE electricity market recorded an average price increase of 15% in week 25 over week 24.
Except for Turkey, all of the examined markets in the SEE saw a sharp increase in the price of electricity on the exchanges. Compared to the previous week, Croatia and Serbia had the biggest percentage gains—31% and 27.5%, respectively, followed by Hungary and Bulgaria, which showed rises of 25% and 22%.
Exceptfor Hungary and Turkey, all SEE countries saw increases in the price of electricity, with prices hovering around €100/MWh. The price range for energy was €49–110/MWh. The weekly average price of wholesale electricity in Turkey wa €48.74/MWh. Hungary was the second-cheapest electricity market in the region during the week of June 17, with €96.25/MWh. Week 25 saw the highest average price among the markets under analysis, with the Italian market recording an average price of €109.8/MWh, up 11% from the previous week. Serbia recorded an increase of 27.5% to €106.06/MWh.
In week 25, the major electricity markets in Central Europe experienced a surge in weekly average spot electricity prices. Electricity prices were pressured by less wind power. Increased electricity demand also drove up the cost of electricity.
Prices for energy in Central European markets ranged from €52 to €108 per MWh. With an increase of 34% from week 24 to €108.47/MWh, Slovenia had the highest power prices, followed by Slovakia at €93.63/MWh. With an electricity price of €48.36/MWh, Switzerland was surprisingly the cheapest country in Central Europe, despite an increase of 5% from week 24.
In all European power markets, weekly averages were averaging approximately €85/MWh in week 25. Prices varied from €48.36/MWh In the Swiss market to €109.8/MWh in the Italian market.
