Hungary: Day-ahead prices fell up to 63 euros/MWh in week 7

Prices on the Hungarian day-ahead market fell in the first half of February, driven by lower demand and warm weather. Day-ahead baseload on the HUPX electricity exchange averaged 10 euros/MWh below late-January levels, trading mostly around 70-75 euros/MWh during working days, falling to 63 euros/MWh on February 16.

Electricity demand fell significantly in the first half of month. Electricity production fell slightly as a 500-MW unit of the Paks nuclear power plant went offline for a two-month maintenance break.

Net imports rose but gross imports via Austria and Slovakia fell, as transit needs in the Balkans decreased amid lower demand and strong renewables.

Forward prices fell in the two weeks ending February 16 amid lower gas and EU carbon prices. March baseload fell below 65 euros/MWh, while quarter-ahead dropped to 61 euros/MWh, according to HUDEX exchange data.

Hungarian year-ahead futures settled at 80 euros/MWh, the lowest in almost three years with the premium over Germany narrowing slightly to 6-7 euros/MWh.

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