Southeast European electricity markets traded in mixed directions for Wednesday delivery, while Central European hubs maintained strong price support above €125/MWh. Greece and parts of the southern Balkans faced pressure from renewable generation and lower marginal costs. Regional demand rose, but falling solar and wind output tightened supply-demand balances and limited broader price declines.
Day-ahead settlements across regional exchanges
On Hungary’s HUPX, the day-ahead market settled at €126.90/MWh, down marginally versus the previous session. Slovenia’s BSP exchange cleared at €127.60/MWh, while Croatia’s CROPEX closed at €127.45/MWh. Romania’s OPCOM followed at €125.04/MWh, reflecting integration with Central European fundamentals.
Serbia’s SEEPEX settled at €115.78/MWh, remaining below neighbouring EU markets but higher than southern Balkan exchanges. Greece’s HENEX recorded the lowest regional price at €104.15/MWh. Bulgaria’s IBEX cleared at €112.15/MWh.
Tighter balance as demand rises and renewables fall
The regional power balance tightened as electricity consumption increased to about 29.7 GW, up by 930 MW day-on-day. Total generation declined by nearly 1 GW, supporting wholesale prices. Solar output fell by 436 MW, while wind production dropped by 322 MW.
Hydro output also softened slightly, though it remained the region’s largest generation source alongside solar. Hydropower and solar each accounted for roughly 24% of regional generation, followed by coal at 16%. Gas and nuclear each contributed about 15%.
Import flows and commercial cross-border patterns
Net imports represented only 2% of the overall supply mix, indicating continued internal balancing despite weaker renewable production. Cross-border import dependency declined: total net imports into the SEE-Hungary region fell from 596 MW to 306 MW. Imports into Hungary from Austria and Slovakia dropped from 1,819 MW to 1,098 MW.
The commercial flow picture showed exports from Romania into Hungary continuing. Bulgarian exports toward Serbia and North Macedonia remained strong, while Slovenian exports into Italy persisted. The data highlighted Hungary’s role as a central balancing hub as neighbouring markets responded to local renewable output and congestion conditions.
Intraday volatility linked to solar output timing
Intraday profiles across HUPX, SEEPEX, OPCOM and BSP showed pronounced solar-driven volatility. Prices weakened during midday hours before rising sharply during the evening ramp period. Peak levels generally occurred around hour 21, when reduced solar output combined with stronger residential demand pushed prices toward €180-203/MWh.
EUA, gas and forward power point to later-June easing expectations
Ahead of spot trading, forward commodity markets pointed to a softer outlook: Austrian CEGH gas eased to €50.28/MWh. European Union carbon allowances fell to EUA 76.15/t . German Week-25 power declined to {108.50/MWh}, while Hungarian Week-25 contracts slipped to {113.00/MWh}.
