Türkiye was the clear outlier in the Southeast European electricity market during Week 24, keeping wholesale power prices far below those in the region. The average day-ahead electricity price reached €22.85/MWh, compared with Serbia at €78.22/MWh, Greece at €91.53/MWh, Bulgaria at €93.58/MWh, Hungary at €98.71/MWh, and Italy at €123.17/MWh. The gap underscored Türkiye’s distinct supply dynamics relative to broader European pricing trends.
Demand rises while variable renewables expand
The lower-price environment was not linked to weaker consumption. Turkish electricity demand increased by 246.7 GWh, or 3.8%, to 6.74 TWh. Over the week, Türkiye contributed to regional demand growth alongside other markets.
Supply-side changes were central to the price outcome, with variable renewable generation rising by 368.8 GWh, or 67.1%. Wind generation drove much of that increase, with output rising by 105.9% compared with the previous week. The higher wind availability expanded the supply of low-cost electricity.
Hydropower falls; coal increases as gas output declines
Hydropower moved in the opposite direction, with Turkish hydro generation down by 229 GWh, or 8.6%. That decline accounted for most of the reduction in regional hydro output during the week. In other European markets, a drop of this scale would typically raise reliance on gas-fired generation.
Türkiye instead shifted its thermal mix toward coal-fired generation. Coal output increased by 260.6 GWh, or 21.3%, while gas-fired generation fell by 20.8%. This change reflected a balancing role for coal as hydropower weakened.
Exports rise amid persistent price separation
The combination of stronger wind and lower hydro output shaped weekly market signals for generation dispatch. Higher wind reduced the need for gas-fired power, while coal took on a larger balancing function as hydropower declined . Wholesale prices remained below European levels despite rising electricity demand.
The lower-cost supply environment also supported Türkiye’s external position, with net electricity exports increasing by 53.1% over the week . For market participants across Southeast Europe, Türkiye’s price discount persisted as a feature of the regional landscape.
Commercial opportunities linked to cross-border price separation were constrained by interconnection capacity, differences in market design, and cross-border scheduling limits . As a result, Türkiye continued to operate as a low-price power island with only partial integration into regional price formation .
