Day-ahead electricity prices across Southeast Europe rose sharply on Monday as trading moved from weekend conditions into a higher-demand environment. Stronger consumption, weaker wind generation and higher import requirements were cited as drivers behind the increases across most regional exchanges. The shift coincided with tighter supply-demand balances across Central and Southeast Europe.
Regional price levels and day-on-day movements
Hungary recorded the highest day-ahead price in the region at €151.14/MWh. Slovenia followed at €145.33/MWh, while Croatia settled at €143.50/MWh. Serbia’s SEEPEX market closed at €138.00/MWh, up almost €40/MWh from the previous session, and Montenegro’s BELEN market climbed to €134.70/MWh.
Greece remained the lowest-priced market at €97.12/MWh, keeping a discount of more than €50/MWh versus Hungary. The move was described as one of the strongest day-on-day rallies across regional markets in recent weeks.
Demand, imports and generation mix during Monday trading
Regional electricity demand increased to approximately 26.7 GW, up by more than 2.2 GW compared with Sunday as industrial and commercial consumption returned after the weekend. Generation did not keep pace with demand growth, leading to a substantial rise in net imports. Total imports reached 1,359 MW, nearly three times the previous day.
Imports into the wider Southeast European market from Austria and Slovakia exceeded 1.1 GW. Wind generation provided support but fell to just 1.1 GW, representing around 5% of total generation. Solar output remained strong at 5.5 GW, about 23% of the generation mix, but it was not enough to offset weaker wind conditions during evening hours when prices moved higher.
Nuclear, gas, coal and hydropower shares in supply
Hydropower contributed the largest share of regional generation at approximately 26%, supported by stable Danube river flows. Gas-fired generation accounted for 15% of supply, matching nuclear generation levels. Coal contributed around 14%.
The Monday pricing pattern in Serbia was linked to the return of weekday demand pushing SEEPEX prices above weekend levels. The market recorded a maximum hourly price of €225.10/MWh, while the daily minimum stayed positive at €77.10/MWh.
Serbia and Montenegro cross-border flows and evening premiums
Cross-border flow data indicated continued commercial imports supporting domestic consumption and transit activity across the wider Balkan market. Serbia received significant imports from Bulgaria, Bosnia and Herzegovina, Croatia and Montenegro. This was presented as reinforcing Serbia’s role as a regional balancing hub.
Montenegro showed a similar direction for prices, with BELEN rising by more than €47/MWh versus Sunday. The market reached an hourly maximum of €263/MWh, reflecting tighter balances during evening peak demand periods. Off-peak prices remained elevated above €167/MWh, consistent with stronger evening scarcity pricing as solar production declines after sunset.
Greece’s pricing gap and forward market signals for summer supply
The Greek market differed structurally from neighbouring systems due to strong solar penetration suppressing average prices. Greece also saw substantial intraday volatility as renewable output fluctuated throughout the day. The spread between Greek and Hungarian prices widened to approximately €54/MWh, with cross-border trading opportunities where transmission capacity was available.
Forward markets pointed to caution regarding summer supply conditions, with Hungarian Week 23 power futures trading at €116.50/MWh. July 2026 contracts were assessed at €127/MWh. EU carbon allowances were near €80.6/tCO₂, while Austrian gas prices held around €48/MWh.
Divergence versus Western European negative-price patterns
The latest configuration highlighted a divergence between Southeast Europe and several Western European markets that continue to experience frequent negative pricing periods. Negative prices were described as a recurring feature in solar-heavy systems such as Greece, while most Balkan markets entered June with firmly positive minimum prices. Strong evening premiums and increased dependence on imports were also cited for periods when renewable generation weakened.
The combination of rising weekday demand, subdued wind output and elevated evening scarcity was noted as supporting hydro assets, flexible gas generation, battery storage economics and cross-border trading strategies as the region moves into summer.
