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The European Commission: Romania had the highest increase in price of electricity in the EU
In Q3 2017, the wholesale prices of electricy went up most in Romania (+52%) and in August they reached the maximum in Eastern Europe (over 90 euro/MWh), says a report of the European Commission – the General Direction Energy – regarding the evolution of the electricity markets in the EU.
‘During the whole Q3 2017 the wholesale prices for electricity were the highest in Romania of all the Central and Eastern Europe region, due to the production of electricity and nuclear power inferior to the normal one in the respective country, even in the context of production of nuclear energy in a traditional way’ the DG Energy report says.
‘If we compare Q3 2016 with Q3 2017 the prices went up the most in Romania (52%), Slovenia and Hungary (both with 41%) while the United Kingdom was the only country in the EU where there was a drop in prices (-2.2%), the report says.
According to the document, the most expensive wholesale energy of the EU is traded in Greece and Portugal (52.1 euro/MWh) followed by Serbia (51.7 euro/MWh) Italy (51.6 euro/MWh), Hungary (51 euro/MWh) and Romania (50.2 euro/MWh). The cheapest wholesale energy is in Norway (27.3 euro/MWh), Luxemburg and Germany (32.7 euro/MWh), Sweden (33.6 euro/MWh) and Denmark (33.7 euro/MWh).
As a general average, in Q3 2017 the wholesale prices of electricity at the level of the EU registered a high level of stability and the European indicator of power was 38 euro/MWh.
The graphs presented in the report show that in August the prices for wholesale energy in Romania fluctuated the most, reaching the maximum of the region (95 euro/MWh) on the 5th as on 15th they went dow to the minimum of the region – 18 euro/MWh.
‘Regarding the contracts of average daily prices, the prices in Greece fluctuated between 42 and 60 euro/MWh in Q3 2017 and were less volatile by comparison to the prices in Romania and Serbia, being more affected by the changes in the hydroactive availability of the Balkans’. The prices in Bulgaria ‘ were also relatively stable, varying between 25 and 60 euro/MWh, although the availability of hydroenergy in the country was, in general, lower during the Q3 2017 than during the same Quarter of the last two years’ the quoted report says.
We further present some of the conclusions of the report of DG Energy:
-the yield of the production of electricity on coal and gas dropped even more in Q3 2017, as the prices for coal and gas as well as the prices for carbon emissions registered a constant growth during the whole quarter.
-although the installed capacities increased, the production of wind energy in Q3 2017 was moderate as compared to the previous year, and the production of solar energy did not change
-In some countries in the south and eastern part of Europe, the heat waves of August 2017 had as a result the growth of prices for electricity, but there are no problems of adequacy of productions.