Electricity prices across the Southeast Europe (SEE) region moved decisively lower in Week 07, with all analyzed markets recording Week-on-Week (W-o-W) declines. The correction was particularly strong in the Balkans, signaling improved supply conditions and easing regional fundamentals. Serbia registered the sharpest drop at -23.03%, with average prices falling to €75.85/MWh, reflecting stronger lignite and hydro availability alongside reduced import reliance. Bulgaria and Romania followed with steep declines of -18.64% and -18.50%, maintaining tight price convergence and highlighting continued market coupling dynamics. Greece’s DAM cleared at €88.44/MWh (-11.28%), moving below the €90/MWh threshold amid softer demand and higher renewable penetration. Italy declined by -9.32% to €116.21/MWh but remained the highest-priced major market, while Hungary (-7.94%) and Croatia (-1.12%) showed more moderate adjustments. Türkiye fell nearly -15% to €42.66/MWh and remains structurally decoupled from EU markets.
Across Central and Western Europe, price developments revealed a clear two-speed market pattern. Western Europe experienced sharp corrections, particularly France and the Iberian Peninsula, whereas Central Europe saw more measured declines. France’s wholesale prices halved W-o-W to €39.60/MWh, reflecting strong nuclear and renewable output. Spain and Portugal recorded exceptionally low averages of €6.24/MWh and €2.18/MWh, reinforcing ongoing Iberian decoupling from the rest of Europe. Central European markets moved lower in a controlled manner but remained structurally elevated. Slovakia posted a slight increase, suggesting localized balancing effects. The widening spread between France (€39.60/MWh) and Germany (€109.69/MWh) underscores limited transmission arbitrage and localized generation surpluses in France. As the new week began, Day-Ahead prices continued trending downward, ranging from €20.28/MWh in Albania and €23.16/MWh in Kosovo to €127.61/MWh in Slovenia and €128.68/MWh in Hungary.
Regional electricity demand across SEE declined in Week 07 to 17,854 GWh, down 475 GWh (-2.59%), indicating a broad-based easing of consumption. Türkiye remained the largest consumer at 6,815 GWh (-1.53%), while Italy’s demand dropped by -2.09% to 5,818 GWh. Greece recorded a -2.11% decline, totaling 1,011 GWh. Romania and Serbia saw reductions of -4.0% and -4.04%, respectively, while Hungary and Croatia posted larger proportional declines of -5.01% and -5.81%. Bulgaria experienced the steepest contraction at -6.87%, reinforcing the overall softer regional demand profile.
Variable renewable generation across SEE fell by -4.0% to 3,141.19 GWh, mainly due to weaker wind performance. Wind output declined by -5.0%, with notable reductions in Romania, Croatia, and Italy, while Greece remained stable and Türkiye posted modest growth. Solar generation edged down by -1.1%, as declines in Greece, Bulgaria, and Türkiye offset strong gains in Romania and Hungary. Hungary stood out with a 39.1% surge in total variable renewables, driven by both wind and solar growth, while Italy recorded a contraction largely tied to weaker wind conditions. Overall, the week reflected soft regional wind dynamics partially balanced by localized solar resilience.
Hydropower generation displayed significant regional variation, yet overall output increased by 16.04% to 3,408.75 GWh, highlighting hydro’s role as a key flexibility provider. Greece recorded a strong 24.07% increase, while Croatia posted an exceptional surge of over 670%, likely reflecting reservoir management or seasonal inflows. Türkiye also increased hydro generation by 17.53%. In contrast, Romania and Bulgaria recorded declines, and Serbia experienced a sharp drop of -24.78%. The aggregate rise in hydro output underscores its importance in stabilizing the system amid fluctuating renewable performance.
Thermal generation across SEE declined by -7.29% to 7,693.68 GWh, primarily driven by lower gas-fired output. Gas generation fell by -9.94%, with sharp reductions in Türkiye and Greece, partially offset by modest gains in Croatia and Serbia. Lignite and coal output edged down slightly by -3.44%, although Italy recorded a notable increase in coal utilization. The overall shift reflects reduced gas dependency and stronger hydro balancing during the week, reinforcing the evolving regional generation mix.
Cross-border electricity flows decreased modestly, with total net flows down by -7.50% to 1,230.44 GWh, illustrating adjustments in regional trade patterns. Greece reduced exports, while Romania increased net imports significantly. Bulgaria sharply cut net imports, and Hungary and Serbia also lowered import volumes. Croatia deepened its net export position, while Italy, a structural importer, slightly increased imports. Overall, the week reflected a mixed but coordinated adjustment in cross-border flows, aligning with shifting domestic generation conditions and softer demand across the region.
