Day-ahead pricing across interconnected EU markets
Electricity.Trade’s May 2026 market analysis places Greece among the most distinctive electricity markets in Southeast Europe. The country posted the lowest average day-ahead price among interconnected EU markets in the region at €88.98/MWh. That level was up 0.29% versus April and 8.59% higher than in May 2025. Greece traded below Bulgaria, Serbia, Croatia, Hungary, Romania and Italy.
Cross-border flows and net export position
Greece recorded 874.20 GWh of net electricity exports during May. Imports came from Albania and Türkiye, while exports were directed to North Macedonia and Bulgaria. No electricity trade with Italy was recorded for the month. The largest cross-border flow went to Bulgaria, where exports reached 666.23 GWh.
Generation mix supporting export volumes
Greece’s generation structure contributed to the export outcome. Electricity production comprised 57.19% renewables, 28.11% natural gas, 8.42% hydropower and 4.29% coal and lignite. Renewable generation rose by 15.88%, while hydropower output increased by 40.80% to 408.78 GWh, supported by improved precipitation. Electricity demand grew by 2.44%.
Implications for trading activity in neighbouring markets
The May market performance also reflected how generation characteristics interact with cross-border trading conditions. Competitive wholesale prices supported electricity flows into neighbouring markets, particularly Bulgaria. Natural gas continued to provide balancing capacity without dominating the generation mix. The combination of renewable output influencing hourly price patterns and hydropower adding operational flexibility supported cross-border and intraday trading.
Regional electricity trade linked to renewable and hydropower output
The May 2026 results show Greece’s energy transition reflected in regional electricity trade patterns. Higher renewable penetration coincided with major export activity across the Balkans, alongside increased hydropower production. Export volumes were associated with the ability to meet higher domestic demand while sustaining net exports. Trading opportunities were concentrated along the Greek-Bulgarian and Greek-North Macedonian interconnection corridors.