Serbia’s SEEPEX market recorded a significant correction, with average prices falling from €101.61/MWh to €91.95/MWh. The market nevertheless remained materially more expensive than Albania, Montenegro and North Macedonia.
Commercial flow data shows Serbia maintained its role as a major regional transit hub. Significant imports continued from Romania, Bosnia and Bulgaria while exports flowed toward Kosovo and neighboring markets.
Several developments during May have longer-term implications for the Serbian market:
The postponement of new network approvals for renewable projects until 2029 signals increasing grid congestion concerns.
The emergence of large industrial active buyers, including HBIS and Linglong, indicates growing demand for direct electricity procurement and long-term renewable contracts.
Continued negotiations around NIS and regional gas interconnections suggest that energy security remains a central policy priority.
For traders, Serbia remains one of the region’s most liquid and strategically important markets, but the widening gap between daytime and evening prices is becoming increasingly important for hedging strategies.
