Day-ahead price position across interconnected EU markets
Electricity.Trade’s May 2026 market analysis identifies Greece as one of the most distinctive electricity markets in Southeast Europe. The country posted the lowest average day-ahead price among interconnected EU markets in the region at €88.98/MWh. That figure was up 0.29% from April and 8.59% higher than in May 2025. Greece traded below Bulgaria, Serbia, Croatia, Hungary, Romania and Italy, while maintaining its regional relevance through cross-border activity.
Net exports and cross-border flows in May 2026
In May, Greece recorded 874.20 GWh of net electricity exports. The country imported electricity from Albania and Türkiye and exported to North Macedonia and Bulgaria. No electricity trade with Italy was recorded during the month. The largest cross-border flow went to Bulgaria, where exports reached 666.23 GWh.
Generation mix supporting export availability
Greece’s generation mix supported its export position during May. Electricity production comprised 57.19% renewables, 28.11% natural gas, 8.42% hydropower, and 4.29% coal and lignite. Renewable generation rose by 15.88%, while hydropower output increased by 40.80% to 408.78 GWh, supported by improved precipitation.
Electricity demand increased by 2.44%, indicating that the export surplus aligned with stronger domestic generation rather than lower consumption. With higher renewable and hydro output, Greece met increased demand while continuing to sustain significant electricity exports.
Implications for trading patterns across neighbouring markets
The May market outcomes also reflect how traders view Greece’s system composition for cross-border flows. Competitive wholesale prices enabled electricity to move into neighbouring markets, particularly Bulgaria. Natural gas continued to provide balancing capacity without becoming the dominant element of the generation mix.
This configuration supports cross-border and intraday trading conditions, with renewable output influencing hourly price patterns and hydropower adding operational flexibility for dispatch.
Regional electricity trade linked to renewables and hydropower output
The May 2026 results show Greece’s energy transition reflected in regional electricity trade dynamics. High renewable penetration is presented as a factor shaping cross-border market developments alongside generation availability from hydropower resources. Strong renewable and hydropower output enabled Greece to become a major exporter across the Balkans.
The trading activity created opportunities along the Greek-Bulgarian and Greek-North Macedonian interconnection corridors during May.
