Heatwave pushes up spot electricity prices in Southeast Europe

Heatwave pushes up spot electricity prices in Southeast Europe

By bne IntelliNews July 30, 2021

The average electricity price on the spot (day-ahead) market in Romania and Hungary reached €131 per MWh for the delivery day of July 30, a record high.

Prices were pushed up by a combination of extreme heat that resulted in additional demand for power for air conditioners and other forms of cooling and the unplanned outage at one of the two reactors of Romania’s sole nuclear power plant.

Prices were also high in Bulgaria (€129 per MWh) and Serbia (€125). The highest price was, however, in Greece (€137 per MWh).

The warm weather pushed up the electricity consumption rate in Romania at a new record (8,865MW) on July 29 for the 13:00/14:00 hourly interval, announced Transelectrica.

The weather is expected to remain hot for at least a couple of days, which will keep the consumption of electricity (hence the prices) at high levels.

For the 21:00/22:00 hourly interval on July 30, electricity was traded in Romania at a price of €179 per MWh, which is another record for the country.

The previous record, set on July 12 this year, was also reached in the context of Cernavoda unexpectedly closing down one of its two reactors. The outages at Cernavoda are not related to the nuclear part of the power plant, but to the conventional part.

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