The Market Monitoring Club meets on an invitation-only basis to discuss current energy policy issues. At the recent meeting we discussed based on REKK's recent policy brief the electricity price developments during summer months and observed that contrary to popular belief, prices were highest in Hungary not in August (when the output of the Paks Nuclear Power Plant had to be reduced due to low water levels in the Danube) but in June and July. This highlights the role of grid bottlenecks, as well as the importance of storage facilities and demand-side flexibility.