Electricity

Electricity prices to dive 30% in the region – analyst

electricity prices fall COVID19

Photo: Pixabay

Published

April 16, 2020

Country

Comments

comments icon

0

Share

Published:

April 16, 2020

Country:

Comments:

comments icon

0

Share

Electricity prices in the region could fall 30%, said Nickolay Kiskinov, managing partner at Bulgaria-based Vladimirov Kiskinov Attorneys-at-law.

The current electricity prices at the power exchange in Bulgaria are mostly similar to those in the European western markets where, after the initial collapse, prospects are beginning to change due to expectations of economic recovery, he said and estimated it could eventually lead to an increase.

But, for now, the bounce returned electricity prices only to a realistic and not the desired level, Kiskinov told Bloomberg TV Bulgaria, adding he expects them to decline 30% in the region.

Companies that supply hotels and shopping malls recorded a 30% to 35% decrease in electricity consumption

Suppliers with portfolios that include consumers that halted operations, like hotels and shopping malls, recorded a 30% to 35% decrease in electricity consumption, according to the lawyer. For the ones with mixed portfolios, the decline is 15%, he revealed.

Trading companies are feeling the greatest impact of the crisis

The consequence is a large surplus of electricity, which lowers prices, Kiskinov said.

Electricity demand has decreased by up to 10% in Bosnia and Herzegovina and 5% to 10% in Albania, while Serbia has experienced a 5% to 7% fall.

According to Kiskinov, so far the trading companies felt the greatest impact of the crisis caused by the coronavirus.

Prices plunge 25% to 26.8% in Croatia, Romania, Serbia

Monthly reports of Serbian power exchange SEEPEX and Croatian power exchange CROPEX show the day-ahead market (DAM) prices in March were down around 25% on a monthly basis.

The average price on Romania’s OPCOM has decreased by 26.8%

The average base price in March on SEEPEX was EUR 29.85 per MWh, compared to the average peak of EUR 32.85, while the prices on CROPEX were similar – EUR 29.41 and EUR 31.98, respectively.

The average price on Romania’s OPCOM was EUR 29.66 per MWh, a decrease of 26.8% from February, the monthly report reads.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

CEO Kosovo TSO KOSTT Zeqiri dismissed allegations abuse of office

CEO of Kosovo* TSO KOSTT dismissed amid allegations of abuse of office

29 April 2025 - KOSTT fired CEO Evetar Zeqiri after a complaint that former board members sent to the Special Prosecutor's Office surfaced in the media

bih solar wind projects tso nosbih electricity generation plan

Investors in BiH developing 3,800 MW of wind, 12,500 MW of solar

29 April 2025 - The projections are from the indicative plan for the development of production 2026-2035, published by TSO NOSBiH

North Macedonia MEPSO contractor power line Albanian border

North Macedonia’s MEPSO seeks contractor for power line to Albanian border

29 April 2025 - MEPSO launched a tender for a 400 kV transmission line, the North Macedonian part of a planned interconnection with Albania

Electricity system Spain Portugal collapses from unknown cause

Electricity system in Spain, Portugal collapses amid extreme temperature variations

28 April 2025 - Power was out today throughout Spain and Portugal, in Andorra and parts of southern France amid one of the most serious outages so far