Freeze Hits Balkan Power Markets as Greece Halts Exports
- Cold weather, heavy snowfall boosted electricity consumption
- Southeast European nations are halting exports to neighbors
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The unusually cold weather and heavy snowfall that sowed panic in southeastern European power trading this week continued to pressure prices as Greece stopped exporting electricity and neighboring Bulgaria plans to follow suit.
While day-ahead power prices from Hungary to Bulgaria fell for a second day from Tuesday’s records, they remained above usual levels as the cold weather boosted demand while reducing output from the region’s hydroelectric plants. Greece halted electricity outflows on Wednesday and Bulgaria plans to stop all power exports from Friday.