Türkiye remained the clear outlier in the Southeast European electricity market during Week 24, maintaining by far the lowest wholesale power prices in the region. The average day-ahead electricity price stood at €22.85/MWh, significantly below all neighbouring and interconnected European markets, including Serbia (€78.22/MWh), Greece (€91.53/MWh), Bulgaria (€93.58/MWh), Hungary (€98.71/MWh), and Italy (€123.17/MWh). The scale of the price gap continued to highlight Türkiye’s unique supply dynamics and relatively weak correlation with broader European pricing trends.
The low-price environment was not driven by weaker consumption. On the contrary, Turkish electricity demand increased by 246.7 GWh, or 3.8%, reaching 6.74 TWh, making Türkiye one of the largest contributors to regional demand growth during the week. The key factor behind lower prices was the supply side, where variable renewable generation surged by 368.8 GWh, or 67.1%, supported by a particularly strong increase in wind production. Wind generation more than doubled compared to the previous week, rising by 105.9% and significantly expanding the availability of low-cost electricity.
Hydropower followed a different trajectory. Turkish hydro generation declined by 229 GWh, or 8.6%, accounting for the majority of the overall regional reduction in hydro output. In many European power markets, a decline of this magnitude would typically increase dependence on gas-fired generation and place upward pressure on prices. Türkiye, however, responded differently by relying more heavily on coal-fired generation. Coal output increased by 260.6 GWh, or 21.3%, while gas-fired generation fell by 20.8%, reflecting a notable shift in the thermal generation mix.
This combination created the defining market signal of the week. Stronger wind generation reduced the need for gas-fired power, while coal assumed a larger balancing role as hydropower weakened. The result was a generation structure capable of maintaining wholesale prices well below European levels despite rising electricity demand. The lower-cost supply environment also supported Türkiye’s external market position, with net electricity exports increasing by 53.1% over the week.
For traders and market participants across Southeast Europe, Türkiye’s persistent price discount remains an important feature of the regional market landscape. However, the commercial opportunities created by this price separation remain limited by interconnection capacity, market design differences and cross-border scheduling constraints. As a result, Türkiye continues to function as a low-price power island, operating alongside a significantly higher-priced European electricity market while remaining only partially integrated into regional price formation.