In December 2025, the Serbian power exchange SEEPEX reported a total of 495,637.7 MWh traded on its day-ahead market, reflecting a 6.2% increase from November. This equates to an average daily trading volume of 15,988.3 MWh. However, when compared to December 2024, the volumes represented a 4.1% decrease year-on-year, indicating a mixed performance in the market.
The average daily base price for electricity on the day-ahead market was recorded at €115.5/MWh, which shows a 2.2% decline from the previous month. The euro-peak price also experienced a decrease of 2.9%, settling at €128.7/MWh. These price reductions suggest a trend of softer market conditions as the year concluded.
A significant development occurred on 25 December, when the intraday continuous market achieved a new trading volume record of 2,639 MWh. This milestone underscores the increasing relevance of intraday trading within Serbia’s electricity market.
Since its inception on 17 February 2016, SEEPEX has evolved from an initial trading volume of just 1,925 MWh. The exchange is co-owned by the Serbian Transmission System Operator (TSO) EMS and the European Power Exchange (EPEX SPOT). Its objective is to foster a competitive, transparent, and reliable electricity market in Serbia and throughout southeastern Europe. The introduction of the intraday market in July 2023 further enhances its service offerings.
The trends observed in December highlight both opportunities and challenges for market participants in Serbia’s evolving energy landscape. The increase in day-ahead trading volumes may indicate growing confidence among traders, while declining prices could reflect broader economic factors influencing demand and supply dynamics.
