Gas-fired capacity as regional system insurance and its chronic underpayment problem
Gas-fired generation in South-East Europe no longer earns its keep by running often. It earns it by being there when nothing […]
When power prices decouple from gas and why it happens in South-East Europe first
In mature power systems, electricity prices tend to track gas costs with reasonable consistency. Gas may not always be marginal,
Gas as a volatility multiplier in congested power systems
In South-East Europe, gas does not merely influence electricity prices through marginal cost. It multiplies volatility by interacting with structural congestion in
The gas–power elasticity gap between South-East Europe and Central Europe
The same gas shock produces very different electricity outcomes depending on where it lands. In Central Europe, gas price movements
Gas tightness versus gas price: Why deliverability matters more than TTF in South-East Europe
In South-East Europe, the most disruptive electricity price events are rarely explained by movements in the Dutch TTF benchmark alone.
Gas as the marginal shock transmitter in South-East European power prices
Gas has become the most misunderstood variable in South-East Europe’s electricity markets. It no longer needs to dominate generation volumes,
Carbon convergence as a timing risk in South-East European power trading
Carbon convergence has become the most consequential timing risk in South-East European power trading. Direction is broadly agreed: carbon costs
The structural mismatch between system value and market remuneration
South-East Europe’s power markets are increasingly characterised by a widening gap between where system value is created and where revenue is actually captured.
Flexibility assets as regional trading instruments rather than national arbitrage tools
Flexibility assets in South-East Europe are no longer best understood as domestic arbitrage machines smoothing hourly price curves. They are
Congestion-driven volatility and the reordering of regional price hierarchies
South-East Europe’s power markets are undergoing a quiet but decisive reordering in which congestion, rather than generation cost, increasingly determines
Winter stress events as continental trading events
Winter stress events have evolved from regional anomalies into continental trading events that simultaneously reshape demand, supply, and transmission conditions
Declining inertia and the structural repricing of balancing and intraday markets
The repricing of South-East Europe’s power markets is increasingly driven not by energy scarcity but by the erosion of system