Wholesale electricity prices increased across most Southeast European markets in the week to September 13, even as regional electricity consumption declined. The gap between lower demand and higher prices was linked to renewable output, power plant availability and cross-border transmission capacity. Electricity demand across the monitored area fell 4.7% week on week to 17.67 TWh.
Consumption dropped in Greece, Serbia, Croatia, Bulgaria, Hungary and Türkiye, while Romania was the only market with an increase. Romanian demand rose 1% to 920.3 GWh over the same period. Lower regional consumption did not translate into lower wholesale prices across the monitored markets.
Weekly price increases across most markets
Serbia recorded the largest weekly rise, with its average wholesale price up 11.1% to €155.70/MWh. Croatia followed with a 8.5% increase to €176.34/MWh. Prices also climbed in Romania by 6.2% to €177.28/MWh.
In Hungary, the average price rose 4.6% to €177.31/MWh, while Bulgaria saw a 2.5% increase to €166.96/MWh. Greece and Türkiye were the main exceptions to the broader regional pattern of higher prices. Greece’s weekly average fell 3.2% to €155.32/MWh.
Türkiye’s prices decreased by 8.9% to €47.37/MWh, leaving the Turkish market at a substantial discount versus interconnected European markets. The divergence in outcomes across countries coincided with changes in generation and trading conditions during the week.
Renewables output and cross-border flows shift
Wind and solar output fell 7% to 3.66 TWh, removing around 270 GWh of low-marginal-cost electricity from the regional system. Hydropower generation declined by 2.1%, while thermal generation also decreased by 1.8%. These shifts affected the balance between supply and demand at short notice.
Cross-border electricity trading weakened significantly during the week as net regional electricity flows fell 23.2% to 0.94 TWh. The reduced flow limited how lower-priced areas could offset tighter supply conditions in neighbouring systems. Bulgaria increased exports, while Romania, Hungary and Croatia reduced their import positions.
The latest weekly data indicate that electricity demand alone is becoming a less reliable indicator for short-term price moves across Southeast Europe. Renewable availability, dispatchable generation and interconnector capacity increasingly influence whether lower consumption leads to cheaper electricity or reduces demand within an otherwise tight market.
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