The latest quarterly report prepared by the Market Observatory for Energy of the European Commission showed that Greece had the highest Q2 wholesale electricity prices in South-Eastern Europe, at 56 euro/MWh, while Bulgaria was at the opposite end with the lowest quarterly wholesale averages of 34 euro/MWh.
The report, which “aims at enhancing public access to information about prices of electricity in the members states of the European Union”, noted that the majority of the European markets and the ones in the South-Eastern Europe region saw an increase in wholesale electricity prices in the second quarter of 2018.
In June 2018, Bulgarian prices decoupled from the other regional peers and showed a significant discount to Croatia and Serbia. These lower electricity prices might have been related to increasing nuclear power generation in Bulgaria, as beside domestic lignite-fired generation and hydro sources, nuclear can also ensure base load electricity production with low generation costs.
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