Electricity prices across the Southeast European (SEE) region continued their downward trend in Week 09, with broad-based declines reinforcing a softer market environment. Greece fell by -13.46% to €54.07/MWh, while Bulgaria and Romania posted sharper corrections of -22.71% and -21.72% respectively, signalling easing pressure in the eastern Balkans. Hungary dropped -19.67% and Croatia -18.15%, aligning with the regional bearish trend, while Serbia declined -14.48%. Turkey recorded the steepest contraction at -29.77%, reflecting significant domestic price adjustment. In contrast, Italy was the only market moving higher, edging up 1.76% to €106.67/MWh and maintaining its structural premium over neighboring markets. Overall, Week 09 reflects improved supply-demand fundamentals and likely stronger renewable output across Southeast Europe, driving price normalization.
In Southern Europe, most SEE countries recorded prices below €100/MWh, except Italy. Prices across the region ranged from €21/MWh to €107/MWh. Turkey registered the lowest weekly average at €20.74/MWh, while Serbia was the second-cheapest SEE market at €46.83/MWh, following a -14.48% decrease. Conversely, Italy had the highest weekly average at €106.67/MWh, following a 1.76% increase. Hungary also ranked among the most expensive markets at €86.09/MWh. Daily price peaks occurred on Tuesday, January 17, while lows were seen on Sunday, March 1. Central and Western European power prices mostly moved lower, reflecting improved system fundamentals and softer marginal costs, with exceptions in the Iberian market.
Traders recorded significant regional corrections: Poland fell -20.62% to €90.37/MWh, Czech Republic -20.25%, France -20.80%, and Austria -19.81%. Slovenia eased -18.73% and Germany -12.99% to €74.94/MWh, maintaining its role as a pricing anchor. Belgium (-13.25%) and the Netherlands (-9.42%) followed the downward trend, while Slovakia (-3.44%) and Switzerland (-2.47%) showed marginal adjustments, indicating relative market stability. In contrast, the Iberian Peninsula diverged: Spain rose 18.04% and Portugal surged 54.64%, suggesting tighter local fundamentals or reduced renewable output.
As Week 10 began, Day Ahead prices on March 04 ranged from €99.58/MWh in Serbia and €102.04/MWh in Greece to €142.64/MWh in Hungary and €143.6/MWh in Slovakia, indicating an upward trend.
Regional electricity demand in Week 09 softened, with total consumption declining -1.87% week-on-week to 17,429.74 GWh, reflecting milder weather conditions and easing load requirements. Hungary (-12.34%) and Croatia (-11.28%) led contractions, while Romania (-5.79%) and Bulgaria (-5.47%) posted moderate declines. Italy reduced consumption by -4.22%, and Greece saw a marginal -1.80% decrease. Serbia edged lower by -3.89%, while Turkey diverged with a 3.71% increase, adding nearly 250 GWh week-on-week.
Variable renewable generation across the SEE region was volatile in Week 09, with wind and solar output down -24.0% week-on-week to 2,995.93 GWh, mainly due to weaker wind production. Italy saw the sharpest adjustment with total RES down sharply (-78.1% wind, partly offset by +4.6% solar). Croatia recorded a similar collapse (-77.1% total RES, -78.2% wind). Greece and Romania posted declines of -7.5% and -25.1%, despite strong solar gains (+30.1% Greece, +69.5% Romania). Turkey’s RES output fell -15.5%. In contrast, Hungary (+108.0%) and Bulgaria (+23.2%) saw exceptional RES growth, driven by strong solar performance.
Hydropower strengthened across the region, rising 5.97% week-on-week to 3,886.75 GWh, offsetting weaker wind output. Turkey (+7.86%) and Croatia (+488.6%) led gains, Romania +5.50%, Serbia +36.24%. Bulgaria (-17.82%) and Italy (-11.16%) declined, partially moderating the regional uplift, while Greece saw a marginal -1.49% reduction. Hungary recorded a 20.93% increase despite a smaller hydro base, reinforcing system flexibility amid renewable volatility.
Thermal power generation rose 4.1% week-on-week to 6,270.15 GWh, compensating for weaker wind and selective demand shifts. Lignite/coal generation climbed 5.77% (+165 GWh), gas-fired output +2.56% (+81 GWh). Turkey led with a 10.68% coal surge, pushing total thermal to 2,609.78 GWh. Italy increased thermal dispatch (+8.47% gas, sharp coal rebound), surpassing 2,100 GWh. Hungary’s gas generation dropped -41.56%, reducing thermal output by 94 GWh, while Romania, Bulgaria, Croatia, and Serbia reduced coal output in line with softer demand. Greece slightly diverged, increasing gas burn +19.19%, raising total thermal generation.
Cross-border flows shifted significantly, with net imports down -79.1% to 1,551.96 GWh, reflecting regional trade rebalancing. Bulgaria’s net imports collapsed -99.7%, Hungary -35.1%, and Turkey cut net exports -34.1%. Greece increased exports +4.5% (-258.45 GWh net export), Croatia switched to net importer, and Romania moved from marginal net exports to net imports. Italy strengthened as a structural net importer (+31.6% to 1,344.68 GWh), while Serbia maintained stable net imports.