The price of wholesale electricity plunged over the weekend, driven lower by an increase in RES output.

Yesterday, wholesale electricity fell to an average price of 53.30 euros per MWh, while, for a five-hour period between approximately 10 am and 3 pm, the price level reached zero, according to energy exchange data. The day’s maximum price level peaked at 120 euros per MWh.

Yesterday’s price level fell by 10.63 percent compared to Saturday’s 59.65 euros per MWh, which, in turn, was 25.30 percent below Friday’s level of 79.85 euros per MWh.

Today’s average wholesale electricity price is 95.18 euros per MWh, with the day’s peak at 153 euros per MWh and the minimum at 59 euros per MWh. Demand for the day is at 160 GWh.

The RES sector is programmed to be today’s biggest contributor with a 47.4 percent share of the energy mix, followed by gas-fueled production, at 22.7 percent, electricity imports at 12.4 percent, hydropower at 7.4 percent, and lignite-fired output, representing 6 percent.