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The price of energy on the Hungarian stock exchange, which our country has as a reference, has jumped again to crazy levels above 400 euros/MWh.
For several months, the prices had stabilized in the new normal that started with the crisis, fluctuating between 220-330 euros MWh depending on the demand, while the lowest levels are reached as always at the weekend.
Specifically, the price for 1 MWh last Sunday was 221 euros/MWH with a decrease from Saturday by 6.6 percent. While at the peak on Sunday, the price was 192 euros/MWh.
On Monday, the peak price for 1 megawatt/hour of energy jumped to 437 euros, while the base price was 389 euros. On July 5, the price for 1 megawatt hour decreased by 16.19 percent compared to the previous day in the case of the peak, while at the base it decreased by 7.36 percent.
Even on Wednesday, July 6, the trading price of one megawatt remained at high levels, being sold at 376 euros/MWh at the peak and 365 euros/MWh at the base.
This Thursday, the price on the Hungarian stock exchange was 371 euros/MWh at the base and 424 euros/MWh at the peak.
The increase in prices in the stock market is mainly related to the Russia-Ukraine conflict and the fear of the complete interruption of gas supply from Russia to Europe. Meanwhile, the maintenance of thermal power plants is another reason why energy production has been lower, bringing less available quantities to the market. This has caused the demand for other alternative sources in the energy market to be high.
The situation is problematic regarding the expectation of energy prices in the stock market, while Albania is currently basing 45 percent of its supply on purchases on the free market. The latter are directly affected by stock market prices. Earlier, KESH confirmed for “Monitor” that 55 percent of the supply will come from local production.
The increase in prices on the stock exchanges is expected to expose the country to a high cost of purchasing energy that by the end of May was more than 145 million euros. This bill is expected to increase significantly by the end of the year, given that the water conditions in the country continue to remain problematic.
Albania is in a state of emergency of energy supply until the end of this year. This situation was expected to last until April 15, but the volatility of prices and the uncertainty of supply assurance brought the need to extend this deadline.
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