Electricity prices across Southeast Europe (SEE) saw substantial reductions in Week 07, with all monitored markets reporting Week-on-Week (W-o-W) declines. The most pronounced corrections occurred in the Balkans, indicating improved supply conditions and a general easing of regional fundamentals. Serbia led the price drop with a notable decrease of 23.03%, bringing average prices down to €75.85/MWh, attributed to enhanced lignite and hydro availability alongside decreased reliance on imports. Bulgaria and Romania followed closely with decreases of 18.64% and 18.50%, respectively, reflecting ongoing market coupling dynamics that maintain price convergence. Greece’s Day-Ahead Market (DAM) cleared at €88.44/MWh, an 11.28% decline that brought prices below the €90/MWh mark due to softer demand and increased renewable energy penetration.
In contrast, Italy experienced a decrease of 9.32%, settling at €116.21/MWh, which still positions it as the highest-priced major market in the region. Hungary and Croatia exhibited more moderate adjustments with declines of 7.94% and 1.12%. Türkiye’s prices fell nearly 15% to €42.66/MWh, maintaining its structural decoupling from EU markets.
Demand trends across SEE also reflected a broad-based easing, with total electricity consumption declining to 17,854 GWh, down by 475 GWh or 2.59%. Türkiye remained the largest consumer at 6,815 GWh, a reduction of 1.53%. Italy’s demand decreased by 2.09% to 5,818 GWh, while Greece reported a decline of 2.11%, totaling 1,011 GWh. Romania and Serbia recorded reductions of 4.0% and 4.04%, respectively; Hungary and Croatia saw larger proportional declines of 5.01% and 5.81%. Bulgaria experienced the steepest contraction at 6.87%, reinforcing the overall trend of reduced regional demand.
Variable renewable generation in SEE also fell by 4.0% to reach 3,141.19 GWh, primarily due to weaker wind performance across several countries. Wind output dropped by 5%, notably in Romania, Croatia, and Italy; however, Greece maintained stable wind generation while Türkiye saw modest growth in this area. Solar generation experienced a slight decline of 1.1%, as losses in Greece, Bulgaria, and Türkiye offset gains in Romania and Hungary. Notably, Hungary achieved a remarkable increase of 39.1% in total variable renewables due to growth in both wind and solar sectors.
Hydropower generation displayed significant regional variation but overall output rose by 16.04% to reach 3,408.75 GWh, underscoring hydro’s critical role as a flexibility provider within the energy mix. Greece reported a strong increase of 24.07%, while Croatia experienced an extraordinary surge exceeding 670%, likely linked to effective reservoir management or seasonal inflows. Türkiye also increased hydro generation by 17.53%. Conversely, Romania and Bulgaria saw declines in hydro production, with Serbia facing a sharp drop of 24.78%.
Thermal generation across SEE declined by 7.29% to total 7,693.68 GWh, driven largely by reduced gas-fired output which fell by nearly 10%. This decline was particularly pronounced in Türkiye and Greece but was partially offset by modest increases in Croatia and Serbia’s thermal production capabilities. Lignite and coal output slightly decreased by 3.44%, although Italy noted an uptick in coal utilization during this period.
Cross-border electricity flows reflected modest decreases as well, with total net flows declining by 7.50% to reach 1,230.44 GWh—indicative of adjustments within regional trade patterns amid changing domestic generation conditions and softer demand profiles across SEE countries.
