Day-ahead electricity prices across Southeast Europe fell sharply for delivery on 11 June as solar generation expanded, temperatures cooled and regional supply balances improved. The move pushed prices lower in renewable-rich eastern markets while the premium versus Italy widened. The session also coincided with reduced system stress linked to lower weather-driven demand.
Serbia saw the largest decline among major exchanges, with SEEPEX dropping by €37.4/MWh day on day to €78.37/MWh, the lowest level in the region. Slovenia’s BSP exchange fell to €94.71/MWh and Croatia’s CROPEX settled at €96.01/MWh. Hungary’s HUPX and Romania’s OPCOM stayed close to the €100/MWh mark even as declines exceeded €24/MWh.
Montenegro remained the highest-priced market at €104.74/MWh, while Italy continued to trade at a premium of €127.23/MWh. The difference between Serbia and Italy approached €49/MWh, reflecting the contrast between eastern market pricing and western demand-linked levels. Cross-market spreads were therefore maintained despite broad declines across the region.
Temperature retreat and higher renewable output
The correction aligned with a retreat in temperatures across much of Central and Southeast Europe. Regional average temperatures fell to 20.4°C, while Serbia recorded one of the sharpest drops, declining from 24.2°C to 18.3°C. Lower cooling demand reduced system stress as renewable generation stayed elevated.
Total regional power generation rose to 29.1 GW, up almost 1 GW from the previous day. Hydro output increased by 190 MW, coal generation rose by 316 MW and gas-fired generation climbed by 317 MW. Solar production remained exceptionally strong at 6.6 GW, representing approximately 23% of total generation, while hydro accounted for 24% of the generation mix.
Imports fall as supply balance improves
A stronger supply balance reduced import requirements across the region. Net regional imports fell to only 70 MW, compared with 235 MW a day earlier. The change indicated that domestic renewable output was increasingly displacing imported electricity during daylight hours.
Romania continued to stand out in the regional renewables build-out as solar reached a new all-time record of 2,634 MW. The figure surpassed the previous national high set only days earlier. At peak production, solar represented roughly 43% of Romanian generation and supported exports of approximately 1,600 MW into neighboring markets.
Regional flows and forward pricing remain firmer
Cross-border flow patterns reflected these shifts in supply and demand timing. Romania and Bulgaria remained major exporters, while Hungary, Greece, Croatia and Serbia continued to rely on imports during parts of the day. The spread between Serbia and Italy approaching €49/MWh highlighted export economics for generators able to reach western European demand centres through regional interconnections.
Forward markets, however, stayed stronger than prompt prices. Hungarian Week 26 contracts traded at €117/MWh and July contracts at €121.5/MWh, while carbon allowances strengthened to €76.94/t and Austrian gas rose to €50.67/MWh. The forward curve resilience indicated that traders continued to price risks related to weather conditions, hydro uncertainty and potential summer demand spikes.
Solar influence on intraday price formation
The latest trading session showed how solar output increasingly set daytime prices across Hungary, Romania, Bulgaria and Serbia. This reduced thermal generation’s influence during midday hours in those markets. The shift was consistent with expanding photovoltaic penetration affecting daily price shapes.
The same session also pointed to a market structure characterized by depressed midday pricing alongside stronger evening recoveries and widening intraday spreads. Opportunities for battery storage operators, hydro generators and traders capable of arbitraging between renewable-rich Southeast Europe and structurally tighter western European markets grew alongside these patterns.