Renewables and battery storage expansion has pushed wholesale electricity prices in parts of Southeast Europe toward the lower end of the European market. In Bulgaria and Greece, prices have traded around €185–193/MWh. The same period also saw Central Europe at roughly €225–270/MWh, while Spain and Portugal were around €178–184/MWh.
Electricity prices in Bulgaria and Greece have recently traded at about €185–193/MWh, compared with approximately €225–270/MWh across much of Central Europe. Balkan markets stayed slightly above Spain and Portugal, where prices were around €178–184/MWh. The Nordic region continued to record some of the lowest electricity prices in Europe.
Price positioning across European regions
The regional pattern places Southeast Europe closer to the lower end of the European wholesale market as supply conditions change. While Bulgaria and Greece sit below Central European levels, they remain above the Spain and Portugal range cited for the same period. The Nordic countries are described as continuing to have some of the lowest prices in Europe.
The shift is described as particularly visible in Greece and Bulgaria, where renewable capacity has expanded rapidly. Greece increased wind and solar generation, while Bulgaria combined strong solar growth with one of Southeast Europe’s fastest-expanding battery storage portfolios.
Renewables growth and battery storage effects on intraday pricing
Battery storage is presented as increasingly important because higher volumes of low-cost solar generation are associated with larger intraday price fluctuations. Batteries can store surplus electricity during periods of strong solar output, which can help reduce curtailment. Storage can then release power during evening demand peaks.
Evening peaks are linked to periods when gas-fired generation and imports can push prices higher. In this context, batteries are described as supporting the timing of supply relative to demand rather than changing generation costs directly.
Limits on regional price convergence
Cross-border transmission constraints and fragmented national electricity markets are cited as continuing to limit regional price convergence. Even when lower-cost electricity is available elsewhere in Southeast Europe, significant price differences can remain between neighbouring power exchanges.
Further improvement is tied to continued investment in battery storage in Greece and additional wind capacity in Bulgaria. The source also points to stronger renewable and storage development across the Western Balkans, alongside greater market coupling.
Grid investment is also identified as a factor that would allow lower-cost generation to flow more efficiently across national borders. The described changes indicate that Southeast Europe is no longer uniformly among Europe’s most expensive electricity regions.
Sustaining this improvement depends not only on adding new renewable capacity but also on ensuring that grids, storage infrastructure, and cross-border electricity trading develop quickly enough for the region’s changing power market.