Day-ahead electricity prices for delivery on Sept. 24 diverged across Southeast Europe, with Hungary and Romania posting the strongest increases as regional net imports rose above 2.3 GW. Serbia moved lower, while Greece remained the cheapest major market in the set of prices reported. The day-ahead move also contrasted with Germany, where the price fell.
On HUPX, Hungary’s base-load day-ahead price rose by €40.30/MWh to €239.27/MWh, the highest level in the region. Romania followed at €232.50/MWh, up €34.60/MWh, while Bulgaria gained €30.00/MWh to €214.98/MWh. Croatia settled at €212.24/MWh, Albania at €210.96/MWh, and Slovenia at €207.33/MWh.
Other reported day-ahead prices included Montenegro at €196.29/MWh, Serbia at €187.73/MWh, and North Macedonia at €187.35/MWh. Germany’s day-ahead price fell to €138.12/MWh. That left the Hungary-Germany spread at €101.15/MWh, while Hungary traded €63.68/MWh above Greece.
Wind drop and higher imports tighten the regional balance
The physical balance tightened despite stronger solar production across the region. Combined Hungary and SEE electricity consumption was forecast at 29,381 MW, about 305 MW higher than a day earlier, while regional net imports increased by 806 MW to 2,378 MW. Imports from core Central European markets rose to 2,157 MW, up 464 MW.
The largest shift came from renewables, with regional solar output increasing by around 1.3 GW. Wind production dropped by more than 2.2 GW, leaving the system more dependent on cross-border supply even during daytime photovoltaic generation. The wind loss mattered most outside the midday solar window, when renewable availability fell as demand remained elevated.
Total regional generation stayed below consumption, increasing the share of demand covered through cross-border flows. Within that structure, Hungary remained a key destination for imports and also continued exporting toward Croatia and Slovenia during the same period.
Hungary concentrates scarcity outside solar hours
Hungary remained among Southeast Europe’s largest net importers, averaging 1,372 MW, compared with 1,206 MW a day earlier. Domestic consumption rose to 4,711 MW, while generation eased to around 3,339 MW. Imports were sourced from multiple surrounding markets while exports continued toward Croatia and Slovenia.
The hourly HUPX profile showed scarcity concentrated outside the solar window. Hungary’s minimum hourly price stayed high at €151.10/MWh, while the evening maximum reached €403.90/MWh at hour 19. The peak-period average increased to €223.20/MWh, while off-peak power averaged €255.40/MWh.
The Germany-Hungary contrast reflected both timing and constraints, with cheaper German daytime electricity not fully translating into lower Hungarian prices due to transmission limitations and regional demand patterns.
