Day-ahead electricity markets across Southeast Europe weakened for delivery on 17 July 2026, but the move was uneven across the region. Forecast wind and solar generation improved in several markets, including Serbia and North Macedonia, contributing to lower prices. Continued congestion, strong evening demand and limited cross-border flexibility kept Hungary, Romania, Montenegro and Albania among the higher-priced areas.
Regional price spread widens as zones diverge
The regional day-ahead price spread widened to EUR 38.23/MWh, with Greece at EUR 135.94/MWh and Albania at EUR 174.17/MWh. The session did not follow a single bearish pattern, instead splitting into multiple price zones. These zones reflected differences in renewable availability, import dependence and access to lower-cost generation.
Hungary settled at EUR 156.65/MWh, down EUR 5.30/MWh from the previous session. Germany’s day-ahead price fell EUR 19.20/MWh to EUR 140.63/MWh, while Austria declined EUR 16.20/MWh to EUR 144.79/MWh. The contrast contributed to a widening Hungary–Germany spread.
Hungary premium linked to constrained imports and evening peak
The Hungary–Germany price spread expanded from EUR 2.10/MWh to EUR 16.02/MWh in one day. Despite stronger renewable output in Germany and Austria, lower-cost electricity did not fully reach Hungary due to stable north-to-south transmission patterns and limited available import capacity. Average net imports into Hungary and Slovenia from Austria and Slovakia were forecast at around 1,835 MW, nearly unchanged from the prior session.
This level of cross-border capacity was not enough to remove Hungary’s premium, leaving the market exposed to domestic supply conditions and evening peak demand. Hungary’s premium over Austria reached EUR 11.87/MWh, while the gap versus Romania narrowed to EUR 1.36/MWh. Romania cleared at EUR 155.29/MWh, almost unchanged day on day.
The Hungarian hourly curve showed a shift around the evening peak period. Prices eased toward EUR 90–100/MWh during the solar-rich afternoon before rising sharply after sunset, with evening prices approaching EUR 260–270/MWh. Even with an evening peak below the previous session’s level above EUR 300/MWh, the daily average remained above EUR 156/MWh.
Renewable output rises while demand growth stays modest
Across Southeast Europe, renewable availability improved significantly as forecast solar generation increased by 1,634 MW to 8,132 MW. Wind output rose by 1,004 MW to 2,595 MW. Combined wind and solar availability reached 10,727 MW, up by 2,638 MW, or about 32.6%, compared with the previous day.
Demand growth remained much smaller than the renewable increase. Regional consumption rose by only 244 MW (0.7%), reaching 34,563 MW. The higher renewable supply relative to demand reduced daytime scarcity and lowered reliance on thermal generation and imports during solar-producing hours.
The increase in demand was concentrated mainly in Romania and Bulgaria, where combined consumption rose by 436 MW to 10,154 MW. Greek demand increased by 31 MW to 7,694 MW, while Hungary’s consumption declined by 232 MW to 4,930 MW. Serbia’s price movement contrasted with the broader daytime easing seen elsewhere.
SERBIA AND NORTH MACEDONIA see largest corrections; Bulgaria steadier; Greece lowest
Southeast Europe import-export patterns and forward pricing remain supportive for premiums
Bulgaria cleared at EUR 145.28/MWh, down only EUR 0.70/MWh, while maintaining an export position of around 1,278 MW. Greece remained the lowest-priced market at EUR 135.94/MWh, declining by EUR 6.30/MWh. The Greek hourly curve showed volatility, with prices falling during solar hours before recovering toward EUR 200/MWh in the evening.
