A total of 611 TWh was traded on EPEX SPOT in 2022 (-2%)

A total of 611 TWh was traded on EPEX SPOT in 2022, compared to 622 TWh in 2021 (-2%). EPEX SPOT is an electric power exchange, operating in Austria, Belgium, Denmark, Finland, Germany, Great Britain, Luxembourg, the Netherlands, Norway, Poland and Switzerland. In 2022, around 78% of the trading took place on the day-ahead market and 22% on the intraday market. The energy crisis led to higher prices and increased volatility on the spot market, mostly as a result of higher gas market prices and lower-than-normal renewable and nuclear generation. In addition, the dry weather conditions had an effect on thermal power plants, as low river water levels constrained lignite transport. Nuclear power plants also lacked cooling water.

The largest market on EPEX SPOT in 2022 was Germany/Luxembourg, with 172 TWh traded on the day-ahead market (-12%) at an average price of €235.45/MWh (x2.4 compared to 2021), and 70 TWh on the intraday market (stable). France registered a volume of 115 TWh traded on the day-ahead market (-7% compared to 2021) at an average price of €275.88/MWh (x2.5 compared to 2021), and 13 TWh on the intraday market (+25%). In 2022, the Nordic short-term markets, covering Denmark, Finland, Norway, and Sweden, reached a combined 47 TWh in day-ahead trading, a +7% increase on year. The intraday segment reached a combined 6 TWh, representing a +73% increase on year. Finally, in Great Britain, power trading reached 47 TWh on the spot market (-25% compared to 2021) with an average price of £205.66/MWh (x1.7 compared to 2021) and 5 TWh on the intraday auctions coupled with Ireland (-17%).