The recent heat wave has significantly impacted the electricity markets. Miloš Mladenović, Director of the Serbian Electricity Exchange, noted in an interview with RTS that the heat wave has led to a notable increase in electricity prices on the stock exchanges, which also serve as reference prices on the wholesale market.
In March and April, average prices stood at around 65 euros per megawatt hour. By May, they had climbed to 80 euros, and further rose to 98 euros per megawatt hour in June. Currently, prices range between 120 and 125 euros per megawatt hour, highlighting a sharp increase, as Mladenović pointed out.
The dynamics between base and peak electricity prices are shifting, largely influenced by the substantial contribution of solar power plants. Mladenović anticipates that in the second quarter, the base price of electricity will surpass the peak price, a reversal from previous trends.
Similar pricing trends are expected throughout the summer. On the futures market, which forecasts future price movements, prices around 90 euros per megawatt hour are anticipated in the third quarter of summer, with expectations rising to 110 euros per megawatt hour in the fourth quarter. This trend is expected to maintain the base price advantage due to the significant impact of solar power generation in the market.
