Spiking Romanian power prices
For the second time during this week, the Romanian day-ahead electricity prices hit the top level among the rest of the European spot markets. Low supply from hydro and wind power generation could not cover the increased consumption. Danube flow levels are still about 30% below normal at the moment.
Even less supply from today: the nuclear reactor Cernavoda1 was taken offline in an unplanned outage on Wednesday morning, boasting the prices up to 122.1 €/MWh in base and up to 152.7€/MWh for the peak contract.
Romania - net electricity importer!?
Power imports reached a historical record during August and it looks like this pattern continues in September.
Romania used to be a net exporter of electricity in the past years and the country was able to produce enough electricity to cover the inland demand. Electricity consumption increased gradually during the past years and the steep growth in renewables between 2010 and 2015 was quite promising - but the development of renewables basically stagnated since then, and today we are facing electricity prices in Romania above 100 €/MW level – a fairytale has gone bad.
Do you have questions or feedback? Get in touch with me.
Dr. Anamaria Toebe
Senior Market Analyst SEE/CEE