In Week 42 of 2024, electricity market prices in Southeast Europe (SEE) increased overall compared to the previous week, driven by a decline in wind energy production and rising gas prices. Romania and Hungary recorded the largest percentage increases in electricity prices, up 11.27% and 9.01%, respectively. Italy and Bulgaria followed closely with increases of 8.61% and 8.47%. Conversely, Türkiye’s electricity prices dropped by 11.27%, and Greece experienced a slight decrease of 0.67%.
Average spot electricity prices in Central Europe also rose, with prices ranging from €53 to €80/MWh. The Netherlands had the highest price at €80.03/MWh, a 9.08% increase from Week 41, while the Czech Republic followed at €76.75/MWh. France recorded the lowest price in the region at €52.82/MWh, marking a 13.54% rise.
During this period, European weekly averages hovered around €75/MWh, with prices in the French market at €52.82/MWh and in Italy at €116.17/MWh, the latter being the only market exceeding €100/MWh for the second consecutive week. In the Iberian Peninsula, prices were €65.17/MWh in Portugal and €62.41/MWh in Spain.
In the SEE region, all countries except Italy had prices below €100/MWh, ranging from €59 to €116/MWh. Türkiye recorded the lowest price at €59.20/MWh, while Croatia was the second cheapest at €73.33/MWh. Italy’s market had the highest average price of €116.17/MWh, an increase of 8.61% from the previous week. Greece followed with an average price of €78.79/MWh, down 0.67% from Week 41, while Romania was the third most expensive at €78.00/MWh.
Electricity demand in the SEE region increased slightly, rising by 0.81% compared to Week 41, reaching 14,969.44 GWh. While most countries saw higher demand, Greece, Croatia, and Türkiye reported declines. Bulgaria and Serbia experienced the largest demand increases at 7.02% and 4.28%, respectively.
Renewable energy output in SEE surged by 12.5%, reaching 2,656.44 GWh, primarily due to a significant rise in wind generation, which increased by 29.4% to 1,707.51 GWh. Türkiye had the highest wind output increase at 129.4%, while Greece saw a rise of 67.4%. However, Italy, Croatia, and Hungary faced declines in wind generation.
Solar output dropped by 8.9% to 948.92 GWh, with the most significant decreases in Italy and Türkiye, which fell by 30.6% and 11.2%, respectively. Other SEE countries experienced increases in solar production, with Bulgaria achieving the highest output.
Hydropower generation rose by 1.11% to 2,760.12 GWh, mainly due to heavy precipitation in Italy and Romania, which saw increases of 8.63% and 18.47%, respectively. In contrast, Croatia, Greece and Hungary reported declines in hydropower output.
Thermal power generation in SEE fell by 1.5% compared to the previous week, resulting in an output of 6,746.22 GWh. Coal-fired generation increased by 1.35% to 3,406.82 GWh, while gas-fired generation declined by 4.25% to 3,339.40 GWh. Türkiye saw a slight increase in coal generation but a significant drop in gas generation. Bulgaria’s coal and gas generation rose, while Italy’s coal output decreased but gas generation increased.
Regarding cross-border electricity trade, net imports in the SEE region fell by 10.58% to 1,097.39 GWh. Exports from the region decreased by 22.0%, totaling 148.88 GWh, while imports fell by 12.1% to 1,246.27 GWh. Greece and Italy saw significant declines in net imports. Serbia and Türkiye remained net exporters, with Türkiye increasing its exports by 4.79% while Serbia’s exports decreased by 5.75%. Bulgaria maintained its net exporting status but with reduced exports to neighboring countries.
