Wholesale electricity prices increased across Southeast Europe in Week 34, covering the period from 17 to 23 August, while aggregate electricity consumption weakened. The weekly day-ahead average rose in most monitored markets, with Greece recording the largest increase. The changes were measured against Week 33.
Greece’s weekly day-ahead average climbed 41.2% to €144.41/MWh. Bulgaria gained 16.9%, Türkiye 12.8%, Hungary 7.2%, Romania 6.6%, Croatia 6.5%, and Serbia 5.8%. Italy was the only market to decline, slipping 2.2% to €168.31/MWh.
Regional price levels by market
Among the monitored markets, Italy remained the most expensive at €168.31/MWh. Hungary averaged €155.16/MWh, Croatia €153.78/MWh, Romania €152.54/MWh, and Bulgaria €150.60/MWh. These averages were assessed over the same 17 to 23 August window.
Consumption declines alongside higher prices
Total electricity demand across the markets covered by the report reached 17,590 GWh. That level was down 6.42% compared with Week 30, indicating weaker overall load during the period assessed. Demand fell in Italy by 17.36%, Greece by 10.87%, and Romania by 4.74%.
Bulgaria, Türkiye, and Hungary also saw demand edge lower during Week 34. Serbia and Croatia were the main exceptions, with demand increases of 13.54% and 14.33%, respectively. The comparison links higher day-ahead prices with a mixed regional consumption picture.
Generation availability shifts during Week 34
The divergence between prices and consumption points to supply conditions playing a larger role than load growth in setting outcomes during the week. Variable renewable generation declined by 11.0% compared with Week 30, driven largely by a 26.4% fall in wind output. Thermal generation also decreased by 13.07%.
The decline in thermal output included gas-fired generation contracting by 30.32%. With renewable production weaker and thermal output lower, replacement capacity became increasingly valuable during periods when generation availability fell short of demand needs.
Sustained evening tightness after midday troughs
The timing of supply availability mattered for price formation over the day, particularly during summer conditions with large solar fleets. Daylight hours could remain relatively comfortable while conditions tightened substantially after sunset. The hourly price profile showed an evening ramp across the region.
