Day-ahead electricity markets across Southeast Europe weakened for delivery on 17 July 2026, but the price decline varied widely by country. Forecast wind and solar generation improved in several markets, lowering prices in Serbia, North Macedonia and parts of Central Europe. Congestion, strong evening demand and limited cross-border flexibility kept Hungary, Romania, Montenegro and Albania among the higher-priced areas.
The regional price spread widened to EUR 38.23/MWh, with Greece at EUR 135.94/MWh and Albania at EUR 174.17/MWh. The session reflected a split into multiple price zones rather than a uniform move across the region. Price levels were shaped by renewable availability, import dependence and access to lower-cost generation.
Hungary, Germany and Austria show the widest day-ahead divergence
Hungary cleared at EUR 156.65/MWh, down EUR 5.30/MWh from the previous session. Germany fell by EUR 19.20/MWh to EUR 140.63/MWh, while Austria dropped by EUR 16.20/MWh to EUR 144.79/MWh. The Hungary–Germany spread widened from EUR 2.10/MWh to EUR 16.02/MWh in one day.
The wider spread persisted despite stronger renewable output in Germany and Austria. Lower-cost power did not fully reach Hungary due to stable north-to-south transmission patterns and limited available import capacity. Average net imports into Hungary and Slovenia from Austria and Slovakia were forecast at around 1,835 MW, leaving Hungary exposed to domestic supply conditions and evening peak demand.
Hungary’s premium over Austria reached EUR 11.87/MWh, while the gap with Romania narrowed to EUR 1.36/MWh. Romania cleared at EUR 155.29/MWh, almost unchanged day on day, indicating similar supply constraints in the eastern part of the coupled market despite improved daylight renewables.
Hourly profile: solar hours soften prices before evening spikes return
Hungary’s hourly curve showed a pronounced evening effect. Prices eased toward EUR 90–100/MWh during a solar-rich afternoon before rising sharply after sunset, with evening prices approaching EUR 260–270/MWh. Although below the previous session’s peak above EUR 300/MWh, the evening increase kept the daily average above EUR 156/MWh.
The daily decline was linked mainly to a lower evening peak rather than a major collapse in daytime pricing. Additional renewables reduced scarcity during peak hours, while thermal generation and imports remained needed once solar output faded. Gas-fired generation continued to play an important role in marginal price formation during non-solar periods.
Southeast Europe renewable output rises as demand growth stays limited
Renewable availability improved across Southeast Europe, with forecast solar generation up by 1,634 MW to 8,132 MW. Wind output increased by 1,004 MW to 2,595 MW. Combined wind and solar availability reached 10,727 MW, up by 2,638 MW, or about 32.6%, versus the previous day.
Demand growth was smaller than the renewable increase. Regional consumption rose by only 244 MW, or 0.7%, reaching 34,563 MW. The stronger renewable supply relative to demand reduced the need for thermal generation and imports during solar-producing hours.
The increase in demand was concentrated mainly in Romania and Bulgaria, where combined consumption rose by 436 MW to 10,154 MW. Greek demand increased by 31 MW to 7,694 MW, while Hungary’s consumption declined by 232 MW to 4,930 MW.
Larger drops in Serbia and North Macedonia; Bulgaria and Greece stay lower-priced exporters
Larger drops in Serbia and North Macedonia; Bulgaria and Greece stay lower-priced exporters
Serbia recorded one of the largest price corrections in the region. SEEPEX fell by EUR 18.00/MWh to EUR 142.39/MWh, placing it EUR 14.27/MWh below Hungary. North Macedonia declined by EUR 17.00/MWh to EUR 141.76/MWh.
The spread between Serbia and North Macedonia narrowed to only EUR 0.63/MWh, aligning southern-central pricing more closely across the two markets. Serbia remained a net importer at approximately 365 MW, so the lower level reflected temporary supply improvement rather than structural surplus conditions.
Bulgaria cleared at EUR 145.28/MWh, down only EUR 0.70/MWh, while maintaining an export position of around 1,278 MW.
Greece stayed the lowest-priced market at EUR 135.94/MWh, declining EUR 6.30/MWh.
With average exports of around 1,347 MW, Greece continued supplying neighbouring markets with lower-cost electricity.
A cluster around Slovenia, Croatia and Montenegro; Albania trades highest alongside Italy elevated prices
A separate price cluster formed around Slovenia, Croatia and Montenegro where prices remained closely aligned. Slovenia settled at 152.28/MWh.