In the latest developments across Southeast Europe (SEE), electricity prices have seen a notable decline in Week 05, primarily influenced by reduced demand and increased renewable energy generation. All monitored markets reported week-on-week price drops, indicating a comprehensive easing of market conditions. The most substantial decreases were recorded in Serbia (-29.9%), Bulgaria (-25.5%), Romania (-22.7%), and Greece (-21.3%). These reductions were largely attributed to heightened availability of wind and hydropower resources, coupled with lower system loads that alleviated pricing pressures from gas and coal-fired power generation.
Hungary and Croatia also experienced significant price reductions of -18.1% and -14.1%, respectively, reflecting improved regional supply dynamics and enhanced export opportunities from neighboring systems with strong renewable energy sources. Türkiye’s electricity prices fell by -12.4%, supported by robust wind and hydro generation alongside decreased gas consumption. Italy displayed relative resilience with a more moderate decline of -4.7%, as ongoing import dependence and stable demand mitigated downward price pressures despite an increase in renewable output.
In Central Europe, price movements varied, with Slovakia (-5.7%), Slovenia (-11.9%), and Austria (-14.0%) showing notable declines, while Switzerland experienced a slight decrease of -3.6%. Conversely, the Czech Republic (+1.4%) and Germany (+2.4%) saw minor increases due to tighter system conditions. The average wholesale electricity price across Europe during this period was €120.48/MWh, with regional prices ranging from €17.25/MWh in Portugal to €154.85/MWh in Poland.
Southern European markets predominantly recorded prices above €100/MWh, with Türkiye achieving the lowest average at €52.84/MWh, followed closely by Serbia at €97.63/MWh after its sharp decline. Hungary maintained the highest weekly average at €145.51/MWh, while Croatia and Romania also ranked among the more expensive markets at €141.17/MWh and €140.76/MWh, respectively.
Electricity demand across the region decreased significantly during Week 05, attributed to milder weather conditions leading to lower heating requirements. Overall consumption dropped by -5.1% week-on-week, amounting to a reduction of 992 GWh. Greece experienced the most pronounced decline at -8.9%, while Bulgaria and Hungary followed with decreases of -11.7% and -8.3%, respectively.
The generation of electricity from variable renewables surged by 20.2% week-on-week, driven primarily by improved wind conditions which compensated for a decline in solar output. Wind generation increased by 35%, with Greece witnessing the largest relative rise at +176%. Türkiye contributed significantly to absolute growth with an increase of +300 GWh or +31.8%. However, solar output fell regionally by -15.1%, with Greece experiencing the steepest decline.
Hydropower generation also saw a significant boost across SEE, increasing by 22.7% week-on-week, led by Türkiye’s growth of +265 GWh or +27.2%. Croatia recorded a remarkable relative increase exceeding 700%, while moderate gains were noted in Greece and Romania as well.
In contrast, thermal generation faced a considerable downturn of -15.6%, particularly in gas-fired output which saw reductions of -20.8%. Türkiye and Italy reported the largest cuts in gas generation at -40% and -11.6%, respectively, while coal/lignite production decreased moderately.
Cross-border electricity balances reflected these changes as net imports fell by -13.9% week-on-week due to lower demand and stronger renewable supplies. Romania and Bulgaria experienced significant drops in net imports of -57.5% and -65.1%. Meanwhile, Serbia increased its net imports by 21.6%, and Italy’s imports rose to over 900 GWh.
