Heavy winter, heatwave drive up first-half SMP average

The System Marginal Price (SMP), or electricity wholesale price, averaged 53.11 euros per MWh in the first half of 2017, driven up by last winter’s energy crisis, especially developments during the month of January, when the SMP rose sharply to 74.595 euros per MWh, data provided by LAGIE, the Electricity Market Operator, has shown.

The SMP averaged a far lower level of 46.961 euros per MWh between March and May. However, in June, the SMP gained 5.587 euros per MWh compared to May. Higher temperatures, combined with higher tourism industry-related demand, played a role in this rise.

Overall, the average SMP for the first half of 2017 rose considerably compared to the equivalent period a year earlier, gaining 23.965 percent. A year-on-year rise of 15.695 percent was registered for the four-month period covering March to June.