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BHP moves to end two Serbian exploration options

BHP has issued termination notices for its Central Timok and Borsko exploration options in eastern Serbia. Mundoro Capital will retain 100% ownership of eight licences once the notices take effect, and plans to seek partners to fund further drilling.

Centerra agrees to invest nearly C$4.1 million for 9.9% Mundoro stake

Centerra Gold has agreed to buy 12.374 million newly issued Mundoro Capital shares for approximately C$4.08 million (€2.60 million), subject to approvals. The proposed placement would give Centerra a 9.9% stake as Mundoro seeks funding and partners for exploration in Serbia.

Northstone secures more than A$2.3 million for Serbian exploration

European Energy evaluates 1 GW wind-led complex in Bulgaria

JANAF halts Croatian crude flows after 500 cubic metre spill

Albania prepares 300 MW solar auction requiring battery storage

HEV earns more than EUR 2.5 million as Drina loss widens

Bulgaria ombudsman proposes VAT cut as household gas prices rise 46.3%-56.5%

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TRADING

North Macedonia day-ahead trading rises 27.6% to 186,900 MWh

North Macedonia’s day-ahead market traded 186,900 MWh in October, up 27.6% year on year. Its average market-clearing price rose 49.3% from September to EUR 224.74/MWh as tighter regional conditions lifted wholesale power costs.

IBEX October day-ahead volumes rise 23.2% as prices jump 40%

Bulgaria’s IBEX recorded higher year-on-year day-ahead trading in October as baseload prices climbed around 40% from September. Early-November prices remained high, including a €303.78/MWh trade on 6 November.

North Macedonia buyers take 34,000 wind guarantees at €0.35 each

North Macedonia’s first guarantees of origin auction sold 34,000 of 35,000 wind certificates offered through MEMO. The auction adds price discovery to the country’s administrative framework for renewable certificates.

Romania proposes 2027 end to mandatory forward power trading

Romania’s Energy Ministry proposed ending mandatory forward electricity-trading requirements on 31 December 2027, while keeping producer and supplier obligations in place until then. The proposal could reshape volumes on organised contract markets and how retailers secure long-term hedges.
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Specials

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Electricity

Greece prices fall 16.4% as Montenegro keeps regional premium

Day-ahead prices for 8 November delivery fell in several southeastern European markets, including Greece and Serbia, while Montenegro remained at a premium to its neighbours. Romanian nuclear output rose after Cernavodă Unit 1 reconnected to the grid on 6 November.

Montenegro power price rises 8.2% to more than €295/MWh

Croatia seeks CISAF aid as large firms pay 20.5% above EU average

HUP urges Croatia to lift supplier compensation ceiling to €210/MWh

EU guidance clarifies customs records for Serbian power exports

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Gas

Bulgaria ombudsman proposes VAT cut as household gas prices rise 46.3%-56.5%

Bulgaria's ombudsman has proposed temporarily reducing VAT on natural gas for residential consumers from December 2026 through April 2027. The government has not said whether it will adopt the measure or what rate would apply.

Romania advances gas and renewables with 612 MWh storage project

Greece-Germany power link study puts costs at up to €15 billion

Bosnia’s €1.5 billion gas link unlikely to finish before 2030

European gas scenario reaches €115/MWh as diesel stays tight

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Oil

JANAF halts Croatian crude flows after 500 cubic metre spill

JANAF halted crude transport on part of the Sisak-Slavonski Brod route in Croatia after construction equipment damaged pipeline infrastructure near Prvca. An estimated 500 cubic metres of oil spilled.

MOL posts about $1.25 billion pre-tax profit as refining margins strengthen

US extends NIS licence through 11 December 2026, keeping Pančevo refinery running

European gas scenario reaches €115/MWh as diesel stays tight

Regional refineries and routes shape Southeast Europe diesel supply

SEE ENERGY NEWS

European Energy evaluates 1 GW wind-led complex in Bulgaria

European Energy is evaluating a renewable-energy complex in Bulgaria's Dobrich region, centred on a wind project of up to 1 GW. Solar generation, battery storage and dedicated electricity infrastructure for industrial users are also under review.

JANAF halts Croatian crude flows after 500 cubic metre spill

JANAF halted crude transport on part of the Sisak-Slavonski Brod route in Croatia after construction equipment damaged pipeline infrastructure near Prvca. An estimated 500 cubic metres of oil spilled.

Albania prepares 300 MW solar auction requiring battery storage

Albania is preparing a 300 MW solar auction that will require battery storage, with the EBRD helping design the tender and its regulatory framework. The project would combine renewable generation and storage as the country seeks to reduce its dependence on hydropower.

HEV earns more than EUR 2.5 million as Drina loss widens

Vrbas Hydropower Plants remained profitable in the first nine months of 2026, while Drina Hydropower Plants reported a wider consolidated loss. Their results point to differing cost pressures across Bosnia and Herzegovina’s Republic of Srpska hydropower fleet.

Bulgaria ombudsman proposes VAT cut as household gas prices rise 46.3%-56.5%

Bulgaria's ombudsman has proposed temporarily reducing VAT on natural gas for residential consumers from December 2026 through April 2027. The government has not said whether it will adopt the measure or what rate would apply.

Romania advances 3.1 GW Black Sea offshore wind plans

Romania has adopted regulations to open its offshore wind sector to investors, with three Black Sea areas offering about 3.1 GW of potential capacity. Transelectrica plans more than EUR 2.2 billion in transmission investment between 2026 and 2035 to support renewable generation.

North Macedonia day-ahead trading rises 27.6% to 186,900 MWh

North Macedonia’s day-ahead market traded 186,900 MWh in October, up 27.6% year on year. Its average market-clearing price rose 49.3% from September to EUR 224.74/MWh as tighter regional conditions lifted wholesale power costs.

HUPX day-ahead volume rises 6.9% to 2.64 TWh in October

Trading on Hungary’s HUPX day-ahead market rose in October as average baseload prices climbed 36.8% from September. Intraday continuous trading also increased, while market participation expanded.
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Wind

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Solar

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NUCLEAR

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HYDRO

MARKETS

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SERBIA ENERGY NEWS

BHP moves to end two Serbian exploration options

BHP has issued termination notices for its Central Timok and Borsko exploration options in eastern Serbia. Mundoro Capital will retain 100% ownership of eight licences once the notices take effect, and plans to seek partners to fund further drilling.

Centerra agrees to invest nearly C$4.1 million for 9.9% Mundoro stake

Centerra Gold has agreed to buy 12.374 million newly issued Mundoro Capital shares for approximately C$4.08 million (€2.60 million), subject to approvals. The proposed placement would give Centerra a 9.9% stake as Mundoro seeks funding and partners for exploration in Serbia.

Northstone secures more than A$2.3 million for Serbian exploration

Northstone Resources secured commitments for a share placement worth about 1.45 million euros, or A$2.37 million before costs, to fund exploration at its Serbian gold-silver and copper-gold projects. The financing will support drilling and technical studies, not mine construction.

Fintel Energija lifts nine-month profit to more than 0.5 million euros

Fintel Energija’s net profit rose in the first nine months of 2026 as stronger financial income offset weaker operating performance. Operating revenue fell 34%, and the company reported a wider operating loss.

Serbia cuts import need 30% as SEEPEX price stays at €307.65/MWh

Serbia’s net electricity import requirement fell to 868 MW on November 6 as domestic generation increased. The SEEPEX price declined but remained above prices in Hungary and Germany.

OFAC gives MOL until February 28, 2027, for NIS preparations

The US Treasury’s Office of Foreign Assets Control has given MOL and MOL Serbia until February 28, 2027, to prepare for a potential acquisition of the Russian-owned stake in Serbia’s NIS. A separate US authorization is still required to transfer ownership.

Market News Roundup CW45

Between November 2, 2026 and November 8, 2026, 164 articles were published. ...

Serbia imports more than 25% of October power, costing around €100 million

More than a quarter of Serbia’s October electricity use came from imports, energy expert Željko Marković said. Weak hydropower production drove the purchases, worth around €100 million.

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