Türkiye’s electricity market remained significantly detached from broader European price formation in Week 24, with an average wholesale price of just €22.85/MWh, well below the rest of the Southeast European range. By comparison, Serbia averaged €78.22/MWh, while Italy remained at the upper end of the spectrum at €123.17/MWh.
This sharp discount was not driven by weak demand. On the contrary, electricity consumption in Türkiye increased by 3.8% to 6.74 TWh, representing one of the largest absolute demand increases in the region. The key driver of the price divergence instead lay in the generation structure.
Variable renewable output surged by 67.1%, supported particularly by a 105.9% increase in wind generation. This strong rebound in renewables helped cap wholesale prices despite rising load conditions. At the same time, hydropower output fell by 229 GWh (−8.6%), reducing flexibility in the system.
The gap was largely absorbed by thermal generation, but with a clear preference for coal over gas. Coal-fired output increased by 260.6 GWh (21.3%), while gas-fired generation declined by 20.8%, limiting gas’s role in marginal price setting. This helped keep overall system costs low and reinforced Türkiye’s structurally lower price level.
On the external side, Türkiye also strengthened its export position, with net exports rising by 53.1%. Higher renewable availability combined with low domestic prices improved export potential, although structural transmission constraints and market fragmentation continue to limit full convergence with European price zones.
For Southeast Europe, Türkiye represents both a source of flexibility and a structurally separate pricing hub. Its combination of large demand, strong renewable growth, coal-based balancing, and consistently low wholesale prices makes it commercially important, but not fully integrated into the pricing dynamics of neighbouring EU markets.
Overall, Week 24 confirms Türkiye’s role as a distinct electricity market within the wider region—low-cost, highly dynamic, and only partially aligned with the price signals shaping Italy and the broader SEE power system.