Electricity.Trade system balance analysis shows that import dependence remains the defining structural feature of South-East Europe’s power markets. On 24 February 2026, the region recorded net imports of approximately 1.75 GW, despite solid hydro and nuclear output.
Markets such as Serbia, Montenegro, and Albania remain particularly exposed. While their prices often trade at discounts, Electricity.Trade emphasizes that these discounts reflect risk premiums rather than surplus conditions. When imports tighten, price adjustments occur abruptly rather than gradually.
Hydro contributed approximately 35% of total generation on the analyzed day, but variability remains high. When hydro output declines, gas-fired generation rapidly becomes marginal, lifting prices across Hungary, Romania, and Greece.
Electricity.Trade concludes that modeling SEE power prices without explicitly accounting for import dependence leads to systematic underestimation of volatility and upside risk.
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