Southeast European day-ahead electricity prices declined on Wednesday, September 16, with stronger solar generation and lower regional demand easing earlier tightness. The price correction was concentrated in Greece, Bulgaria and parts of the western Balkans. Italy moved in the opposite direction, maintaining a premium versus neighbouring markets.
Spot price falls across SEE benchmarks
On HUPX, Hungary’s baseload contract settled at €168.02/MWh, down €21.90/MWh (about 11.5%) from Tuesday. Romanian prices remained closely coupled, with OPCOM falling €20.40/MWh to €169.18/MWh, leaving it only €1.16/MWh above Hungary.
The largest declines were recorded further south. Greece’s HENEX price dropped €46.90/MWh to €123.37/MWh, while Bulgaria’s IBEX contract fell €35.80/MWh to €140.29/MWh. Serbia declined by €30.80/MWh to €151.88/MWh, and North Macedonia fell €31.30/MWh to €153.95/MWh.
Croatia, Slovenia and other Balkan markets track Hungary closely
Croatia and Slovenia traded near the Hungarian benchmark during the session. CROPEX settled at €168.92/MWh, down €19.70/MWh, while Slovenia’s BSP market fell €18.10/MWh to €170.45/MWh. Albania declined by €34.00/MWh to €169.96/MWh.
Montenegro recorded the smallest day-on-day correction among the SEE markets, falling €8.50/MWh to €169.91/MWh. Across the region, the day-ahead declines were reflected in both national averages and contract settlements.
Solar output and demand changes shape hourly pricing
The regional decline was driven mainly by higher expected solar output. Combined SEE and Hungarian solar generation was forecast at 6,714 MW, up 1,087 MW from the previous day, offsetting a forecast decline in wind generation of 539 MW. Wind generation was forecast at 1,859 MW.
Total regional electricity consumption was projected at 29,419 MW, down 336 MW. Hungarian demand fell by 103 MW to 4,481 MW, while Greek consumption dropped by 153 MW to 5,784 MW. Romania and Bulgaria increased slightly by a combined 43 MW, reaching 9,160 MW, while Slovenia and Croatia slipped by 22 MW to 8,690 MW.
The impact of solar generation showed up in the hourly structure of prices in Hungary. Hungarian peakload averaged only €132.80/MWh, compared with an off-peak average of €203.30/MWh. HUPX prices fell as low as €2.80/MWh during hour 14, before rising to a daily maximum of €311.60/MWh in hour 20.
A deeper midday adjustment was recorded in Greece as well. Its peakload contract averaged