Wholesale electricity prices across Southeast Europe rose in the week to November 1 as demand strengthened and renewable generation declined in several countries, increasing reliance on conventional power plants. The simple average across seven quoted markets, excluding Turkey, increased by 9.97% to €275.75/MWh. The Institute of Energy for South-East Europe (IENE) reported the figures.
Romania had the highest average price, at €287.26/MWh, followed by Serbia at €286.55/MWh, Hungary at €284.63/MWh and Bulgaria at €284.10/MWh. Prices in those four markets were within a range of just €3.16/MWh. Greece was the least expensive market, at €255.04/MWh, while Croatia recorded the largest weekly increase, with prices up 14.30% to €270.92/MWh. The gap between the highest and lowest market narrowed to €32.22/MWh, from €39.36/MWh the previous week.
Demand rose as renewable output fell
Supply and demand data point to increasing tightness across the region. Excluding Turkey, electricity demand rose by approximately 2.24%, while variable wind and solar generation declined by around 1.1%. Hydropower output fell by approximately 4.4%, whereas thermal generation increased by about 6.5%. Bulgaria and Serbia recorded particularly strong growth in electricity consumption, while higher gas prices added pressure in markets reliant on flexible gas-fired generation.
The figures indicate a broader tightening of electricity supply and demand across Southeast Europe, rather than an isolated national shortage. Regional averages alone, however, do not quantify transmission congestion, balancing costs or the marginal fuel setting hourly market-clearing prices. For power traders and industrial consumers, the more significant signal is the combination of elevated wholesale prices, closely correlated national markets and greater exposure to generation and electricity import availability as the region approaches the winter season.
