Southeast Europe entered a noticeably tighter summer electricity market during the final week of June, as heat-driven demand combined with higher thermal generation and stronger evening price pressure. During Week 26 (22–28 June 2026), total electricity consumption across the monitored Southeast European markets climbed 12.7% week on week to 18.41 TWh, marking one of the strongest early-summer increases recorded this year and highlighting the growing impact of seasonal cooling demand on regional power systems.
The rise in consumption translated into a broad increase in wholesale electricity prices. Most regional markets posted weekly average prices above €100/MWh, with Hungary recording the highest level at €149.92/MWh, followed by Romania at €148.78/MWh, Italy at €144.67/MWh, and Croatia at €139.09/MWh. Serbia also moved comfortably into triple-digit territory, averaging €110.77/MWh, while Bulgaria reached €104.24/MWh. Greece remained just below the €100/MWh threshold at €99.98/MWh, although it also experienced a notable weekly increase. Türkiye continued to trade independently of the wider regional trend, averaging €27.39/MWh despite posting a significant percentage gain.
The primary catalyst behind the market tightening was the rapid acceleration in electricity demand rather than fuel costs alone. Italy accounted for the largest increase, adding more than 1.2 TWh of weekly consumption to reach 6.49 TWh, while Croatia, Hungary, Serbia, Romania and Greece also registered substantial growth. The data underline how quickly rising temperatures and air-conditioning demand can shift Southeast European electricity markets from relatively balanced conditions to much tighter operating environments, where national generation mixes respond differently depending on the availability of hydro, thermal plants, renewable output and electricity imports.
Generation increased during the week but not sufficiently to ease market pressure. Variable renewable energy production rose 11.7% to 4.27 TWh, supported mainly by stronger wind generation, while solar output remained broadly unchanged and renewable gains varied across individual markets. At the same time, hydroelectric production declined 2.8% to 3.51 TWh, reducing one of the region’s key sources of operational flexibility during periods of elevated demand.
As renewable and hydro generation proved insufficient to fully cover the increase in consumption, thermal power plants played a much larger role in balancing the system. Thermal generation surged 24.7% to 6.52 TWh, with gas-fired output increasing 25.5% and coal and lignite generation rising 23.6% compared to the previous week. This stronger reliance on conventional generation reinforced higher wholesale electricity prices across much of the region.
The latest market data suggest Southeast Europe is moving into a summer period where peak-hour pricing is becoming increasingly important. Rather than baseload supply alone determining market value, the highest-priced periods are increasingly linked to the evening demand ramp created by cooling needs. For industrial consumers, electricity traders and renewable energy producers, market performance in July is likely to depend on the interaction between sustained summer demand, thermal generation costs, hydro availability and the region’s ability to maintain cross-border flexibility as temperatures continue to rise.
Elevated by Virtu.Energy