Financial and business news from Bulgaria

The price of the current exchange collapsed to 0.1 BGN per MWh

Record low electricity prices of almost zero leva were today on the electricity exchange, reported From 3 am to 12 noon deliveries were carried out at prices in the range from 0.1 to 0.39 leva per megawatt hour. For comparison - at the beginning of March tariffs of over 100 BGN/MWh were usual for the morning and noon hours of the day.
The main reason for the extremely low prices of the Bulgarian Independent Energy Exchange is the stopped consumption of thousands of outlets from the restaurant and hotel business, as well as shopping malls. Electricity traders who supply these outlets currently have excess energy and are trying to market it through the Day Ahead platform, but as the oncoming demand is poorly prices are literally collapsing. There is a similar trend in almost all of Europe, and in Germany, the Czech Republic and Slovakia, the average current price for today is even negative.