Cross-border electricity trading in Southeast Europe fell sharply in the week to September 13, reducing the region’s ability to balance national supply deficits and contributing to higher wholesale prices across most markets.
Aggregate net flows declined 23.2% week on week to 0.94 TWh, from 1.22 TWh in the previous period. The contraction coincided with a 7% fall in wind and solar generation and lower thermal production in Greece, Serbia, Croatia and Türkiye.
Romania registered the largest change among the regional importers. Its net imports fell almost 50% to 74.54 GWh, supported by an almost 80% increase in wind generation and a 10.6% rise in thermal output. Hungary reduced net imports by 12.5%, while Croatia recorded a 9.7% decline.
Lower imports did not necessarily indicate looser national markets. Croatia’s electricity price rose 8.5% to €176.34/MWh, while Hungary’s increased 4.6% to €177.31/MWh. Reduced cross-border access left both systems more dependent on domestic generation during periods of weaker renewable output.
Bulgaria moved in the opposite direction, increasing net exports 38% to 274.67 GWh. Higher thermal production and a modest increase in variable renewable generation allowed the country to supply neighbouring markets despite a steep reduction in domestic hydropower.
Greece also strengthened its net export position, raising exports from 79.2 GWh to 91.93 GWh. The shift was supported less by stronger production than by a 7.5% decline in domestic demand, which released electricity for neighbouring systems.
Serbia recorded a marginal increase in exports as higher hydropower and weaker consumption compensated for lower thermal generation. The Serbian price nevertheless rose 11.1%, the strongest increase in the region.
The reduction in trading highlights the commercial value of interconnectors linking the Western Balkans, Greece, Bulgaria, Romania, Hungary and Croatia. When renewable production falls simultaneously across several markets, available transmission capacity becomes part of the regional supply stack. Restricted flows leave national systems more exposed to domestic generation costs and produce wider, more persistent price differences.
Elevated by Virtu.Energy
