Exports rose the prices of energy on the spot market
Electricity traded on the spot market PZU increased by about 12% in average price from 144.62 lei / MWh in the first quarter of 2014 to 161.7 lei / MWh in the first quarter of this year, according to OPCOM statistics.
Several providers have told us that the price increase was caused by the significant increase in electricity exports in the first three months of this year: "Overproduction of energy in our country has found an outlet abroad. The demand for domestic energy is in consistent growth, and this is normal to increase the price of the stock exchange, although domestic consumption has remained almost constant. "
According to datas which took possession of BURSA, our country exported in the first quarter, about 1.7 million MWh, an amount almost with 40% higher than the same period last year.
Our country has reported in 2014 a record of electricity exports, which occurred especially in the second half. But this phenomenon did not cause an increase in energy tariffs native traded on the open market.
OPCOM statistics showed a slight decrease of almost 2%, the average price on the spot market in 2014 compared to 2013. The explanation for the phenomenon that we have been given by suppliers is that the region prices were close to electricity tariffs in our country during 2014.
Traders claim that were not recorded in the first quarter, significant fluctuations of production of electricity from hydro and wind, and an increase in exports also contributed to the establishment at the end of last year, the regional energy exchange in attending, alongside Romania, Hungary, Czech Republic and Slovakia, countries where the price of electricity is higher than the local average.
According to data recently published by Transelectrica SA (national carrier of energy), the country's electricity production rose last year by 11.3% compared to 2013 and net consumption rose by 2%, to 53.5 TWh. In 2014, energy exports was 7.5 TWh, 3.5 times higher than 2013 and the highest since 2004. On the other hand, the energy import was 1.4 TWh in 2014.
Broken down by types of production, the largest share had a hydropower covering 30.7% of the total, followed by energy from coal, with a share of 26.1%. Nuclear power covered 17.7% of production, the gas represented 11.9% and renewable energy – 13.6%.
The amount of energy exported last year by our country, is equivalent to 15% of production, recorded the highest level in the last decade has been driven both by a price lower than the European average and a series of foreign circumstances. The energy value exported in 2014 amounted to 355 million euros.
According to data published by Transelectrica earlier this year, among the external factors that have led to increased electricity demand and prices in foreign markets are floodings in June from Serbia, which made unavailable multiple centers in the country, the increasing imports energy of Hungary, Albania and other countries, both on a commercial basis and fund maintenance work on the production units.
OPCOM data indicates that the weighted average price of traded electricity on the spot market last year was 35.76 euros / MWh, while the European average was 40 euros / MWh.
Exports been encouraged by exemption exported energy and cogeneration bonus payment, and the continued growth of the installed capacity in renewable energy that is sold cheaply, given that it is subsidized by consumers.
