Serbian day-ahead electricity prices for delivery on 2 October fell, while most neighbouring markets recorded increases. The move widened the discount to Hungary, even as sharp evening price peaks indicated limited protection from lower daily averages against higher hourly supply costs. The session also showed significant intraday volatility across the region.
SEEPEX settled at €137.92/MWh, down €12.30/MWh from the previous day. Hungary’s HUPX rose by €7.60/MWh to €171.27/MWh, leaving Serbian electricity at a €33.35/MWh discount. The Serbia-to-Hungary gap widened by about €20/MWh in one session.
Romania also moved lower, slipping by €2.60/MWh to €161.91/MWh. Prices strengthened elsewhere, with Slovenia reaching €188.30/MWh, up €17.50/MWh, and Croatia gaining €9.30/MWh to €178.66/MWh. The divergence affected relative price levels across Serbia and the eastern Balkans.
Montenegro’s BELEN rose by €28.70/MWh to €142.87/MWh, reversing much of its recent weakness. Albania recorded the largest daily increase, climbing by €61/MWh to €158.90/MWh, while North Macedonia advanced by €20.80/MWh to €136.75/MWh. Despite those gains, all three remained below Hungary.
The discounts to HUPX were €28.40/MWh for Montenegro, €12.37/MWh for Albania and €34.52/MWh for North Macedonia. Greece remained the cheapest market in the report at €120.52/MWh, although its daily average rose by €9.40/MWh. Bulgaria increased by €3.80/MWh to €138.63/MWh, leaving both markets substantially below Hungary and the western part of the region.
Supply balance, renewables and cross-border flows
The stronger price levels coincided with an improving aggregate supply balance across the region covered in the report. Forecast average demand across Hungary and southeastern Europe eased to 29,086 MW, about 297 MW lower than the previous day. The region’s net export position increased to 593 MW, from 248 MW.