Electricity prices in Romania spike again

Romania’s spot market recorded the highest electricity price in Europe yesterday, namely EUR 125 per MWh. The only country that recorded similar prices was Hungary, which is interconnected to Romania. Electricity prices for next-day delivery climbed to record values for the summer at noon yesterday, namely EUR 125 per MWh or RON 570 per MWh. The average value reached EUR 97.7 per MWh yesterday. On Wednesday, the electricity price on Romania’s spot market climbed to EUR 109.7 per MWh. However, countries such as Italy, Slovenia or Serbia recorded prices of EUR 150 per MWh the same day. The price spikes are related to the higher electricity consumption determined by the heat wave in Europe. Romania’s hydro-energy production is also lower than average while the wind parks in Dobrogea have had a very low contribution in recent weeks. The country thus has to rely on thermal power plants, which have higher operating costs. The impact of these high prices will be visible in most consumers’ bills in the following months. The next price increase for household consumers may come on October 1, according to Niculae Havrilet, the president of the local energy market regulator ANRE. Romania’s Energy Ministry yesterday asked the Competition Council to search for possible non-competitive agreements among the Romanian energy producers based on market signals. The short-term electricity price on the local market saw a similar spike in January this year, when consumption increased due to the very cold weather and speculations that the local thermal power plants may run out of fuel. editor@romania-insider.com