SEE power markets entered Week 25 with a clear bullish bias in most Central and Western Balkan markets, even as the gas backdrop softened. The regional average was driven by higher demand, weaker hydro, lower wind and a larger call on thermal generation. Demand climbed 3.1% to 16.34 TWh, while thermal output increased 19.4% to 5.31 TWh. Gas-fired generation added 771 GWh, up 32.3% week-on-week.
Regional price levels and market segmentation
The price board split into four groups during the week. Italy remained the premium market at €127.69/MWh, up 3.7%, supported by lower hydro, weaker wind, higher thermal dispatch and continued import dependence. Hungary, Romania and Croatia formed the high-price SEE cluster, averaging €109.16/MWh, €104.84/MWh and €102.36/MWh. Serbia, Greece and Bulgaria traded in a lower band around €85–88/MWh, while Türkiye stayed detached at €16.66/MWh.
Solar-wind balance drives the evening ramp shape
The strongest trading feature was the evening ramp pattern. Solar output rose by 8.1%, while wind fell by 4.4%. The resulting profile saw midday prices soften and evening prices tighten. This supported the role of flexible generation, storage and cross-border capacity in shaping delivery products.
Cross-border flows and border capacity effects
Cross-border flows also influenced market outcomes during the week. SEE net imports fell 20.4% to 1.03 TWh, but Italy still imported 1.12 TWhnet. Greece and Bulgaria increased export positions, Serbia moved into a modest net export position, and Croatia raised import dependency. Spreads were therefore linked to physical availability and border capacity rather than fuel prices alone.
