On 5 June 2026, the regional power market recorded a strong bullish correction, with Central European prices rebounding after the prior day’s low renewable output pricing event. Hungary, Romania, Bulgaria and Greece converged around €114.7/MWh. Serbia remained the regional outlier at €86.8/MWh, holding an approximate €28/MWh discount to HUPX.
Day-ahead price moves across Southeast Europe
The largest day-ahead increase was in Hungary, where HUPX rose by €26.3/MWh to €114.92/MWh. Romania, Bulgaria and Greece traded close to €114.7/MWh, while Slovenia and Croatia settled at €108.8/MWh and €109.4/MWh. Albania was the lowest-priced market at €70/MWh, and Montenegro traded at €105.3/MWh.
The main divergence was Serbia, where SEEPEX cleared at only €86.78/MWh, below neighboring coupled markets. The spread reflected a lower marginal pricing pressure relative to the wider Central European region, alongside continued domestic generation adequacy.
Demand, temperatures and renewable generation balance
Regional demand increased marginally to 28.46 GW, while average temperatures rose to 20.8°C. Pricing was driven by a deterioration in the renewable generation balance compared with the previous day. Solar output fell by 1.42 GW, dropping from 6.28 GW to 4.85 GW.
Gas generation also declined sharply by 842 MW, reaching 2.95 GW. Wind rose by 444 MW to 2.32 GW, but it did not fully offset weaker solar production. Hydro generation decreased by 305 MW, settling at 6.18 GW.
Generation mix and import share in the regional system
The resulting generation mix comprised hydro at 23%, solar at 18%, coal at 16%, nuclear at 13%, gas at 11%, and wind at 8%. Imports accounted for 11%. Hydro remained the dominant marginal balancing technology across SEE despite higher solar penetration.
Cross-border flows and Hungary as a balancing hub
Regional net imports fell to 1,951 MW, down by 1,088 MW from the previous day. Imports from CORE markets decreased by 1,536 MW, falling to 2,604 MW. The reduction coincided with the Hungary–Germany spread narrowing from €27.2/MWh to €14.6/MWh.
This change indicated lower arbitrage incentives between Western and Central Europe while commercial flow data continued to show Hungary as the major regional balancing hub. Exports included Romania → Hungary at approximately 787 MW peak, Hungary → Croatia at approximately 571 MW peak, and Bulgaria → Romania at approximately 905 MW peak. Serbia also acted as a major transit market between Bosnia, Montenegro and Hungary-linked corridors.
Intraday price pattern and evening ramp dynamics
The hourly profile followed an early-summer renewable pattern across the region. Prices were heavily depressed between hours