Romania reported, for two days in January, the highest energy price in Europe

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Romania recorded on January 15 and 23, 2017, the highest energy price in Europe, reaching EUR 74.92 per MWh, EUR 96.52 per MWh respectively, domestic wholesale electricity market OPCOM data reveal.

Hungary recorded the highest price this month in Europe – EUR 300 per MWh.

On Friday, prices on OPCOM spot market rose to a new high, RON 610 per MWh respectively, a level which is more than double the first days of this year, before the frosty period.

The high price on OPCOM spot market is not caused by a deficit of energy as 6.8 TWh was traded on OPCOM platforms in January, higher than the country’s consumption, estimated at maximum 6 TWh this month. Moreover, another volume of 3.4 TWh is trading on the spot market.

On futures markets, the price for January 2017 is RON 168 per MWh.

However, just recently, Alexandru Petrescu, Minister of Economy, stated that the high price traded on the energy market in this period will be reflected in consumers’ bill. He stressed that the energy sector goes through a risk period these frosty days, due to insufficient stocks.

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