The price of electricity for next day delivery on the Romanian energy market OPCOM reached an average of RON 305 (EUR 66) per MWh yesterday, more than double compared to last Monday, when the price was RON 145 per MWh.

The day’s highs were recorded between 18:00 and 19:00, when the prices went over RON 460 (EUR 100) per MWh.

During the day, the electricity prices on the local market surpassed those in Hungary, Slovakia and the Czech Republic. Romania’s energy market OPCOM is interconnected with these three markets.

The spike in electricity prices is likely related to the lower wind power production on Monday. Yesterday morning, the instant wind power production was only 535 MW, four times lower than last Monday. Romania thus had to import electricity over the day to cover its internal consumption.

The new spike in electricity prices comes at a time when the Parliament is investigating some big players in the local energy sector for alleged market manipulation at the end of January, when the spot electricity prices went up rapidly, reaching an average of over RON 500 per MWh, and created a difficult situation in the market.

editor@romania-insider.com