Hungary remained one of the most expensive electricity markets in the SEE-connected region during Week 24, despite a noticeable improvement in its import position. The Hungarian day-ahead average declined by 4.3% to €98.71/MWh, yet the market still ranked above Greece, Bulgaria, Croatia, and Serbia, remaining close to Romania at €97.38/MWh.
Demand growth was relatively subdued. Hungarian electricity consumption increased by only 1.1%, significantly lower than the stronger demand expansions observed in Italy, Greece, and Türkiye. On the supply side, conditions improved more clearly, with variable renewable generation rising by 21.2%, while hydropower increased by 27.3% from a low base, providing additional domestic balancing support.
A more important development came from the trade balance. Hungary remained a net importer, but net imports declined sharply by 108.5 GWh, or 60.3%, indicating improved domestic and regional supply conditions. This reduction was supported by stronger renewable generation and softer pricing in neighbouring markets, which eased pressure on import dependency.
Despite these improvements, Hungary continued to trade within a relatively high-price band. The 17 June day-ahead snapshot recorded €123.79/MWh, the highest daily price point in the Southeast European dataset for the week. This reinforces Hungary’s structural sensitivity to Central European price formation, particularly during periods of tighter regional supply or elevated cross-border congestion.
Hungary’s market role therefore differs from lower-priced SEE markets such as Serbia and Bulgaria. While Serbia experienced a sharp price correction and Bulgaria strengthened its export position, Hungary instead remained anchored in a higher price environment, even as import reliance declined. The market continues to reflect a combination of Central European pricing influence, domestic demand patterns, renewable intermittency, and interconnector constraints.
For traders and industrial consumers, Hungary remains a premium pricing benchmark within the SEE-linked region. Even when import dependence eases, price levels can remain elevated due to its exposure to Central European scarcity signals and cross-border flow dynamics, making it a structurally important reference point for regional hedging strategies.