Wholesale electricity soared to over €83/MWh in November

The average cost of wholesale electricity in November was 50.1 percent higher than the average for the year, official market data just released by power grid operator IPTO has shown.

Wholesale electricity prices averaged 83.095 euros per MWh in November, well over the current year’s average of 55.332 euros per MWh, the data showed.

Of November’s 83.095-euro average, 57.284 euros concerns the day-ahead and intraday markets.

Surcharge costs in November were also well over the average level for 2021, reaching 16.456 euros per MWh last month compared to this year’s average of 5.665 euros per MWh.

The year’s lowest average wholesale electricity cost, over a month, was recorded in June, at 38.677 euros per MWh. The second-highest monthly average, below November’s peak, was recorded in January, at 67.326 euros per MWh.

Electricity consumption fell to levels below 4 million MWh for five months this year, in April, May, June, October and November, according to the IPTO data.