The combination of increased electricity imports, high RES production and reduced energy demand resulted in a reduction of wholesale electricity prices on Christmas Day, including a near-zero-level market clearing price.
On Christmas Day, the market-clearing price dropped to as low as 0.04 cents per MWh, while the day’s average price was 98.09 euros per MWh.
Electricity imports comprised 34.72 percent of the country’s energy mix on Christmas Day, followed by renewables (32.14%), natural gas-fueled production (21.66%), hydropower (8.27%), and lignite-fired generation (0.27%).
Market conditions were similar on Boxing Day, the average market-clearing price dropping 10.94 percent to 87.37 euros per MWh. The day’s market-clearing price low was 2 euros per MWh, while the maximum price reached 135.28 euros per MWh.
As was the case on Christmas Day, electricity imports also dominated the energy mix on Boxing Day with a 33.91 percent share, followed by renewables (32.66%), natural gas-fueled production (21.98%), hydropower (8.02%), and lignite-fired generation (0.26%).
As for today, the average market-clearing price is forecast to rise mildly, by 3.8 percent, to 90.69 euros per MWh, as a result of greater energy-mix contributions by natural gas and lignite and a drop in RES input, while the day’s lows and highs are expected to reach 35 euros per MWh and 137.39 euros per MWh, respectively.
Once again, electricity imports are planned to dominate the energy mix today with a 31.45 percent share, followed by natural gas-fueled production (28.55%), renewables (24.99%) hydropower (7.74%), and lignite-fired generation (3.97%).
It is also worth pointing out that, over the past seven-day period, the market-clearing price has remained below the 100 euro per MWh barrier for five days, exceeding this level on just two days.