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Electricity prices rise in June

Energy Trade

Due to rising demand, rising costs, and low wind power generation, electricity prices continued to rise in June in both the European and domestic markets, according to the June market monitoring report of the Hungarian Energy and Utilities Regulatory Authority (MEKH), writes profitline.hu.

In the short term, the impact of heatwaves on consumption was also significant, with the agency estimating that domestic electricity demand will also increase by 5% on high-temperature days.

Higher solar power generation curbed price increases during the day, but significant "price spikes" occurred in the evening on hot days, MEKH wrote in a statement. In the first month of the summer, Hungarian production nevertheless increased significantly compared to June last year.

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