Electricity prices in Southeast Europe rose for 9 October delivery, with Hungary reaching €269.43/MWh and Serbia posting the largest daily increase among the markets covered. Lower wind generation and nuclear outages tightened regional supply, raising reliance on imports and widening price differences versus Central European markets.
Hungary’s day-ahead premium over Germany increased to €190.86/MWh, up from about €74.9/MWh the previous day. While German electricity prices declined, most Southeast European markets recorded higher levels, despite higher cross-border imports into the region.
Serbia, Hungary and Romania see the largest day-ahead gains
Serbia’s SEEPEX day-ahead average increased by €60.6/MWh to €239.96/MWh, representing an increase of about 34%. Hungary’s day-ahead price rose by €55.2/MWh, or nearly 26%, while Romania climbed by €45.8/MWh to €255.20/MWh. Bulgaria’s average increased by €33.1/MWh to €241.49/MWh.
The price increases were linked to tighter generation availability rather than a major rise in demand. Forecast electricity consumption across the covered markets rose by just 118 MW to 30,187 MW. Expected wind generation fell by 1,354 MW to 1,376 MW, nearly halving versus the prior day.
Wind output drops while solar rises modestly
Solar generation was forecast to increase by 319 MW to 5,339 MW. That gain offset less than a quarter of the decline in wind output, leaving combined wind and solar generation lower by about 1,035 MW. The reduction increased the need for alternative sources of electricity.
Regional net imports rose by 1,523 MW to 4,247 MW, equivalent to roughly 14% of forecast consumption compared with 9% a day earlier. Imports through monitored Austria–Slovakia routes into Hungary and Slovenia increased by 1,307 MW to 3,555 MW.
Nuclear outages reduce available capacity across the region
Nuclear outages added pressure on the regional supply balance despite higher import flows. Romania’s Cernavoda nuclear plant was reported to have both reactors unavailable, with the outage expected to continue until at least 15 October. Any restart was described as dependent on conditions on the Danube.
Bulgaria’s Kozloduy nuclear power plant saw unit 6 enter annual maintenance scheduled through the end of November. Unit 5 was operating at approximately 917 MW gross, with available output also affected by low river levels. Across the covered regional generation markets, nuclear production had already fallen by 645 MW to 3,216 MW on 8 October.
Southeast Europe price moves vary across other markets
Southeast Europe price moves vary across other markets (continued)
The increases extended beyond Serbia, Hungary and Romania, but varied by market. Montenegro’s BELEN average rose by €14.6/MWh to €223.39/MWh, while Croatia increased by €22.1/MWh to €222.92/MWh. Slovenia advanced by €14.6/MWh to €211.73/MWh.
Greece’s day-ahead average climbed by €42.7/MWh to €207.93/MWh, while North Macedonia recorded a €42.4/MWh increase to €210.14/MWh. Albania moved lower, with prices falling by €111/MWh to €110.53/MWh, about half the previous day’s level.
A widening Hungary-Germany spread and stronger forward curves in Hungary
The change in Albania’s pricing widened its discount versus Hungary to nearly €159/MWh. Forward electricity prices strengthened in Hungary alongside higher spot levels for the period covered. Week-42 contracts increased by €19/MWh to 235/MWh, while week-43 prices rose by
223/MWh.
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Hungary-Germany spread and stronger forward curves in Hungary (continued)
A widening Germany-Hungary spread in forwards amid higher costs for thermal generation
The November contracts gained €7.5/MWh; to €227/MWh;. The November Hungary–Germany price spread widened to €45.50/MWh;, reflecting continued concern over relative electricity costs in the Hungarian market.
Austrian CEGH gas rose to €80.78/MWh;, while EU carbon allowances increased to €86.88 per tonne;. These movements provided additional support for wholesale electricity pricing levels through higher fuel and carbon costs for thermal generation.
Tight supply signals from 9 October demand and import patterns
The market changes were tied to lower wind output alongside reduced nuclear availability and more expensive replacement supply during the period covered. For electricity buyers, those factors increased exposure to wholesale volatility as hourly price differences widened across borders.
The key signal for 9 October delivery was a sharp rise in imported electricity requirements despite relatively stable demand forecasts across the covered markets. Until wind output recovers or unavailable nuclear capacity returns, Southeast European markets remained exposed to further price increases tied to replacement supply needs.