In week 3 electricity prices in Europe declined compared to week 2, as opposed to the upward trend registered in most markets over the last two weeks, due to milder weather, lower gas and CO2 prices and higher wind power supply.
In the SEE region, the electricity price on the exchanges fell in most markets, except Turkey, by an average of 11%.
Serbia, Croatia, Greece and Hungary registered an average drop of 12.1%, while Bulgaria and Romania posted lower prices by 9.4% and 8.3% respectively.
Electricity prices ranged between €59-96/MWh. Turkey recorded the lowest weekly average at €58.64/MWh, followed by Serbia which was the second cheapest electricity market in the region, with electricity price at €88.36/MWh.
The Italian market registered the highest average price among the analysed markets, with an average price of €96.16/MWh. It was followed by Bulgaria which recorded an electricity price of €94.04/MWh.
Weekly average spot electricity prices in Central Europe followed a downward trend in all markets during week 3. The general decrease in electricity demand led to lower prices in the European electricity markets and also the surge in wind energy production in countries such as Germany and France contributed to this behaviour.
All wholesale electricity markets in Central Europe experienced significant electricity price losses, with most markets posting prices between €82-93/MWh. Switzerland was the country with the highest electricity price at €92.01/MWh. The Netherlands was the cheapest country in Central Europe with an electricity price of €82.02/MWh.
In the third week of January, weekly averages were below €90/MWh in almost all European electricity markets.
The exception was the Italian market, which registered the highest average of €96.16/MWh. The Portuguese and Spanish markets had the lowest weekly prices of €66.25/MWh and €66.75/MWh, respectively.
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