European electricity prices in the 34 week were higher compared to the last week of July, due to the increase in gas prices and the decrease in wind production. The increase in demand and the increase in the average price of CO2 emission rights also contributed to this trend.
In the SEE region, the price of electricity increased by 39% on average. Hungary registered the highest electricity price surge by 47%, followed by Croatia which faced an electricity price rise of 45% as compared to Week 30. Romania and Bulgaria registered higher electricity prices by 43% and 42% respectively.
Electricity prices in Bulgaria, Romania, Hungary, Serbia and Croatia increased between 42% and 47%. Italy and Greece saw smaller percentage increases by 31% and 24% respectively.
Electricity prices ranged between 76 and 138 euros per MWh. Turkey registered the lowest price at a weekly average of 75.8 euros per MWh, followed by Croatia and Serbia – 132.3 euros per MWh and 134.73 euros per MWh respectively.
Italy was the most expensive country in Europe at 137.7 euros per MWh, followed by Greece at 137.6 euros per MWh.
Weekly average spot electricity prices in Central Europe followed an upward trend during the last week of August due to the increase in gas prices and the drop in wind generation in most markets.
All wholesale electricity markets in Central Europe experienced considerable gains in prices, with markets posting prices above 100 euros per MWh. The Netherlands was the country with the lowest electricity price at 117.5 euros per MWh, followed by France – 117.5 euros per MWh.
