As July came to a close, Europe’s electricity markets shifted gears. Prices decreased, production slowed, and volatility made a comeback, with some interesting regional contrasts along the way, according to a Wiren report covering the week of July 28- August 3, consulted by Energynomics.
Weekly averages dropped across all markets, bringing the continental benchmark down by 20%, to around 70 €/MWh.
Southeast Europe saw the biggest declines – Slovenia (-32%), Croatia (-29%), Romania and Bulgaria (-25%). Even so, Slovenia recorded the highest hourly price of the week (225 €/MWh), followed just an hour later by Romania with 224 €/MWh.
A slight downward shift was recorded last week on Romania’s day-ahead market, with the average price easing from earlier values and settling at 91,13 €/MWh – a 24,88% decrease from the previous week’s 121,31 €/MWh.
As a result, it moved to the sixth position among the most expensive electricity markets in Europe, ranking behind Italy, Montenegro, Poland, Bulgaria, and North Macedonia. Even so, the difference separating Romania from countries like Greece, Serbia, and Hungary remained narrow, less than 5 €/MWh.
The weekly maximum reached 224 €/MWh during hour 20 on Wednesday, July 30, just shy of the 225 €/MWh recorded in Slovenia. This marked Romania’s highest hourly price of the week, aligning with seven other neighboring countries setting their own weekly highs.
On Sunday, August 3, the country also recorded its weekly minimum of -10 €/MWh during hour 15, coinciding with similar declines in prices across half of Europe’s power exchanges. The lowest European price for the week, -11 €/MWh, was registered in Czechia during hour 18 of the same day.
As July came to a close, European electricity prices dropped, with the continental average falling to 70 €/MWh, a 20% decrease from the previous week. The biggest reductions were seen in Southeast Europe, with Slovenia down 32%, Croatia 29%, and Serbia, North Macedonia, and Greece all decreasing by 26%. Romania and Bulgaria saw a 25% drop.
Italy and Montenegro kept prices above 100 €/MWh, while Finland recorded the lowest at 21 €/MWh. Compared to last year, most European prices dropped, except in Northern and Central Europe, where Denmark (+61%), Finland (+25%), and Poland (+4%) saw increases. The biggest declines were in Spain and Portugal (55%) and the Baltics, with Estonia down 56%, and Lithuania and Latvia seeing drops of 47% and 45%.
