In Week 11 of 2025, electricity prices across Southeast Europe (SEE) dropped significantly due to warmer temperatures and lower electricity demand, despite rising CO2 prices and gas prices climbing above €40/MWh again after falling below that threshold in the previous week. All SEE markets experienced a decline in electricity prices. Initially, prices were on the rise but began to fall midweek. Bulgaria and Greece recorded the most substantial price reductions, with decreases of -17.40% and -16.18%, respectively. Türkiye and Romania followed, with declines of -15.30% and -14.79%. On the other hand, Italy and Croatia saw the smallest decreases in electricity prices, with reductions of -4.65% and -4.50%, respectively.
During the second week of March 2025, the electricity prices in Central Europe surged, with prices exceeding €100/MWh. This increase was attributed to higher electricity demand, driven by colder temperatures, and reduced wind and solar energy production compared to the previous week. Electricity prices in Central Europe ranged from €101 to €120/MWh, with Switzerland being the most expensive at €119.97/MWh, 3.86% higher than in Week 10 of 2025. Austria followed at €110.93/MWh, while France had the lowest prices at €100.69/MWh, though this represented a 32.84% increase from the previous week.
In Week 11, European weekly average electricity prices stood at around €104/MWh, with prices ranging from €79.57/MWh in the MIBEL market to €119.97/MWh in Switzerland. In the MIBEL market, prices surged to €65.88/MWh in Portugal and €80.27/MWh in Spain, with increases of 20.78% and 21.84%, respectively. In the southern part of Europe, half of the SEE countries recorded prices below €100/MWh, with prices ranging from €49 to €117/MWh. Türkiye had the lowest average price at €49.12/MWh, while Greece was the second cheapest market at €92.11/MWh. Italy registered the highest average price in the SEE region during Week 11 at €117.38/MWh, although this was a decrease of -4.65% compared to the previous week. Hungary followed with the second-highest price at €111.07/MWh.
The daily prices in the week of March 10, 2025, peaked on Wednesday, March 12, and hit their lowest on Friday, March 16, ranging between €37 and €71/MWh. Week 11 saw a decrease in electricity demand across the SEE countries, with all markets reporting lower demand. This was largely due to high barometric pressure over the southeastern region, bringing plenty of sunshine and record-high March temperatures. Average temperatures exceeded those of the previous week, contributing to a 16.53% drop in total SEE electricity demand, which amounted to 15,246.69 GWh. Bulgaria recorded the largest decrease in demand, down by -17.40%, followed by Greece and Türkiye with declines of -16.18% and -15.30%, respectively. Serbia, Hungary, and Italy saw smaller declines in electricity demand, with reductions of -8.80%, -7.05%, and -4.65%, respectively.
Output from variable renewable sources surged across the SEE region during Week 11, increasing by 27.6% to reach 3,054.77 GWh. Wind generation rose by 46.6%, totaling 1,960.87 GWh. Romania and Croatia recorded the largest increases in wind output, with rises of 232.5% and 204.1%, respectively. Solar output also saw a rise, increasing by 3.5% to 1,093.90 GWh. Italy experienced the largest percentage increase in solar generation in the SEE region, with a 100% rise. Hydropower generation in SEE rose by 18.44%, reaching 1,626.92 GWh, mostly due to higher output from Italy and Türkiye, which contributed 397.66 GWh and 236.49 GWh, respectively. Greece and Bulgaria were the exceptions, experiencing reductions in hydropower output, with decreases of -35.82% and -21.36%, respectively.
Thermal power generation in SEE also increased by 47.28% compared to Week 10, totaling 18,230.91 GWh. Coal-fired generation fell by -3.32% to 3,257.36 GWh, while gas-fired generation surged by 66.21%, reaching 14,973.55 GWh. Türkiye saw a decrease in both coal and gas-fired generation, down by -8.81% and -40.21%, respectively. Greece also experienced drops in lignite and gas-fired generation, with declines of -39.13% and -22.92%. Bulgaria’s coal and gas generation fell by -15.59% and -10.81%, respectively.
Cross-border electricity trade in SEE decreased by -29.26% in Week 11 compared to Week 10, totaling 865.40 GWh. Electricity exports from the region fell by -63.5% to 60.21 GWh, while imports dropped by -26.7% to 1,017.27 GWh. Serbia, Romania, Croatia, Italy, and Greece all saw reductions in net electricity imports, with decreases of -99.63%, -90.37%, -89.95%, -18.41%, and -2.36%, respectively. Hungary, however, saw an increase in net imports, rising by 34.39%. On the export side, Greece and Bulgaria maintained their exporting activities, with Greece’s net exports decreasing by -2.36%, while Bulgaria’s net exports increased by 35.38%.
