Southeast European day-ahead power prices rose for Monday delivery, with Hungary and the northern Balkans nearing EUR 180/MWh as electricity demand recovered from the weekend and wind generation weakened. The regional supply-demand balance tightened following Sunday’s lower-load session. Market data showed the highest levels in Hungary and the northern cluster of markets.
On HUPX, Hungary cleared at EUR 183.86/MWh, up EUR 45.9/MWh from Sunday. Slovenia followed at EUR 181.48/MWh, Austria at EUR 181.46/MWh, Croatia at EUR 180.63/MWh and Italy at EUR 179.30/MWh. Romania cleared at EUR 172.58/MWh, while Bulgaria reached EUR 169.90/MWh.
Prices were lower further south. Greece cleared at EUR 153.42/MWh, Albania at EUR 144.33/MWh, North Macedonia at EUR 151.23/MWh and Montenegro at EUR 168.22/MWh. Serbia remained the lowest in the region at EUR 128.19/MWh.
Day-on-day price gains across SEE markets
The increase was broad-based across multiple markets. Greek prices rose by EUR 48.4/MWh day on day, followed by North Macedonia with a gain of EUR 48.3/MWh and Serbia with an increase of EUR 46.0/MWh. Hungary, Slovenia, Bulgaria and Croatia recorded gains ranging from EUR 42.9/MWh to EUR 45.9/MWh.
The tighter balance was linked to higher demand alongside weaker renewable output. Combined electricity consumption across Hungary and southeast Europe rose to 30,974 MW, up 4,206 MW from the previous day. At the same time, regional flows shifted from a small net export position of 240 MW on Sunday to net imports of 1,107 MW for Monday delivery.
Imports from the core European market through Austria and Slovakia increased to 1,405 MW, about 402 MW higher than a day earlier. Renewable availability was mixed, with wind generation falling sharply to 2,210 MW from 3,227 MW. Hydro output also declined to 4,082 MW from 4,355 MW.
Nuclear-free thermal output rises as renewables fall short
Solar generation increased by around 515 MW, reaching 6,830 MW. The additional photovoltaic output was not enough to offset stronger demand together with lower wind and hydro production. Coal-fired generation rose to 6,154 MW, while gas-fired output increased to 4,391 MW.
The change in supply conditions showed up in Hungary’s day-ahead curve on HUPX. The base price moved to EUR 183.9/MWh, compared with EUR 137.9/MWh on Sunday, while the peak contract increased to EUR 181.4/MWh, from EUR 101.6/MWh. The minimum hourly price rose to EUR 142.3/MWh, versus just EUR 27.3/MWh, while the maximum price increased to EUR 226.1/MWh.
Northern cluster convergence and wider southern spreads
Northern SEE prices stayed closely aligned with Hungary levels. Slovenia cleared at EUR 181.5/MWh, Croatia at EUR 180.6/MWh, and Austria at EUR 181.5/MWh. Minimum prices across these markets clustered around EUR 140–142/MWh.
The spread widened toward the southern Balkans compared with the northern group around Hungary, Slovenia, Croatia and Austria. Hungary traded about EUR 11/MWh above Romania, roughly EUR 14/MWh above Bulgaria, around EUR 30/MWh above Greece, and nearly EUR 56/MWh above Serbia. Serbia’s discount persisted despite its strong day-on-day increase.
The SEEPEX settlement for Serbia was recorded at EUR 128.2/MWh. The peak average was listed at EUR 120.6/MWh, with a minimum hourly price of EUR 62/MWh; the maximum hourly price reached EUR 240/MWh. Greece remained structurally cheaper than northern markets as well.
Borders shift as Italian prices converge with northern SEE levels
HENEX averaged EUR 153.4/MWh, with a minimum hourly price of only EUR 28.4/MWh. Greece’s off-peak average was reported at EUR 183.1/MWh. Bulgaria cleared higher at EUR 169.9/MWh, with a minimum price of EUR 122.5/MWh.
The HU+SEE region moved into net imports of 1,107 MW, while exports toward Italy fell sharply to 281 MW from EUR 1,364 MW on Sunday. Core imports from Austria and Slovakia increased to 1,405 MW. Italy’s national day-ahead price settled at
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The decline in exports toward Italy coincided with closer pricing between Italy and northern SEE markets for Monday delivery.
The Italian national day-ahead price settled at
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The Italian peak price stood at around
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Methane gas and carbon unchanged; forward premium concentrated near term in Hungary
Near-term fuel markets were comparatively stable relative to spot moves reported across SEE day-ahead prices. CEGH gas was quoted at
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EUA carbon allowances were assessed at around
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(Fuel market figures are provided in the source but omitted here due to formatting constraints.) Hungarian Week power was assessed at
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(Forward contract figures are provided in the source but omitted here due to formatting constraints.) The HUPX day-ahead settlement stood more than EUR
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Sensitivity to wind output shapes next sessions’ pricing divide
The regional market remained sensitive to wind availability and weekday demand conditions for Monday delivery sessions described in the data set. Consumption increased by
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(Wind and demand figures are provided in the source but omitted here due to formatting constraints.) Hydro output also weakened during the same period.
A key feature for coming delivery sessions was described as a widening divide between a northern cluster around Hungary, Slovenia, Croatia and Austria near EUR
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(The EUR level is provided in the source but omitted here due to formatting constraints.) Markets in Serbia, Albania, North Macedonia and Greece were indicated as substantially cheaper in comparison.
The HUPX daily minimum was reported above EUR
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(The exact figure is provided in the source but omitted here due to formatting constraints.) The market showed signs of scarcity across the load curve rather than a pattern driven solely by an evening peak event.