Electricity prices for households across South-East Europe have surged, exceeding 700 euros per megawatt-hour. This sharp increase in the cost of electricity is attributed to a combination of factors, including drought conditions that have diminished hydropower and nuclear generation, alongside extreme heat that has influenced overall energy demand patterns. Slovenia and Croatia reported the most significant escalations, with electricity prices rising between 50 and 100 percent compared to the previous week.
These steep increases reflect widespread energy shortages impacting multiple nations in the region. The supply constraints are evident in major power generation facilities. Low water levels in the Danube River necessitated significant operational adjustments.
Specifically, the Paks nuclear power plant in Hungary was forced to reduce its production capacity by 90 percent. Furthermore, the Romanian Blackwater plant curtailed output by 50 percent, while Slovenia’s Krško facility reduced its capacity by 20 percent. Given the current operational status of these facilities and the prevailing environmental conditions, experts do not anticipate any immediate change in the supply outlook.
Consequently, the market faces sustained upward pressure on energy costs, making the current price of electricity a primary concern for consumers and industries throughout the region.
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