Specifically, on the TTF benchmark, April delivery contracts closed today at €53.6/MWh, marking a 20.44% increase in one day, while intraday prices reached as high as €65.42/MWh.

In contrast, domestic wholesale electricity prices showed a slight decline for tomorrow. On the Energy Exchange, for Wednesday, March 4, the price per megawatt-hour is €102.04, down from €105.79 today, a drop of 3.55%.

Regarding price fluctuations, the minimum fell to nearly zero (€0.01/MWh) from €9.90 today, while the maximum rose to €261.83/MWh, up from €224.94 today.

In the energy mix for electricity generation, renewables lead with 38.02%, followed by natural gas at 35.39%, hydro at 18.90%, lignite at 4.08%, and imports at 3.61%.

Amid the heated environment of the conflict and with no signs of de-escalation, combined with the effective blockade of the Strait of Hormuz, energy prices on the international market are expected to continue their upward trajectory.