Trading in the SEE-Hungary daily power market for the 24 June 2026 session showed scarcity pricing across the northern and central Southeast Europe corridor. The key daily reference points were HUPX at €200.72/MWh, up €27.7/MWh day on day, and Romania’s OPCOM at €200.95/MWh. Germany cleared at €207.84/MWh, leaving the HU-DE spread negative at -€7.12/MWh.
Daily price levels across SEE markets
The regional price distribution split into two blocks. The highest-price cluster included Hungary, Romania, Slovenia and Croatia, with BSP Slovenia at €195.49/MWh and CROPEX Croatia at €196.36/MWh. Serbia followed at a lower level but with a steep rise, with SEEPEX up €62.8/MWh to €156.14/MWh.
Bulgaria and Greece were materially cheaper at €141.66/MWh and €139.85/MWh, respectively. Albania was the lowest market at €106.81/MWh. Montenegro also lagged relative to HUPX, with BELEN at €113.62/MWh, down €1.7/MWh day on day and €87.10/MWh below HUPX.
Generation mix and residual-load drivers
Regional consumption was almost unchanged at 32,188 MW, only +30 MW versus the previous day. Wind output fell by 712 MW to 2,123 MW, while solar declined by 694 MW to 6,360 MW. To cover the shortfall, dispatch shifted toward controllable generation.
Gas increased by 745 MW to 5,383 MW, hydro rose by 456 MW to 6,829 MW, and coal climbed by 301 MW to 4,868 MW. Nuclear remained stable at 5,037 MW. The session therefore reflected a residual-load squeeze tied to weaker renewables alongside higher thermal dispatch and an elevated evening clearing outcome.
Hourly pattern: evening spikes dominate
The hourly profile showed that prices were not uniformly high across all hours. On HUPX, the daily minimum reached €60.7/MWh at H14, followed by a surge to €604.8/MWh at H21. Evening spikes were also recorded in Germany, Romania and Slovenia.
Germany reached €665.8/MWh, Romania cleared at €601.4/MWh, and Slovenia posted €583.5/MWh. This indicated that the strongest price pressure was concentrated in the evening ramp rather than being driven by tight conditions throughout the full 24-hour period.
Cross-border flows and country-level import balances
The import picture pointed to tightening in the wider region. The HU+SEE area was a net importer by 538 MW, up 284 MW from the previous day. Core imports from AT+SK were 376 MW, slightly lower day on day.
The daily balance showed different positions by country: Bulgaria and Greece were net exporters at around 1,066 MW and 1,050 MW, respectively. Croatia was a major importer at 983 MW, Romania imported around 1,063 MW, Serbia imported around 479 MW, and Hungary imported around 357 MW.
Serbia’s exposure through SEEPEX pricing and imports
This section contains no additional facts beyond those already provided.
Fuel, carbon and forward power signals
The spot rally was not linked to major moves in key fuel or carbon benchmarks during the session window described. CEGH gas fell to €43.25/MWh, down €0.6/MWh, while EUA dropped to €80.71/t, down €0.9/t. Coal forwards were only marginally higher, with Jul-26 API-2 at $115/t and Q3-26 at $113/t.
Hungarian forward power also did not fully track the spot spike: Week 27 fell to €132.50/MWh, while Jul-26 rose to €120.50/MWh. The forward pattern therefore did not show a broad repricing aligned with the same magnitude as the spot evening outcomes.
Temperature outlook for SEE+HU demand conditions
The near-term price outlook referenced in the report remained constructive due to warmer weather forecasts across SEE+HU over several days ahead. The temperature forecast increased from 24.4°C on 24 June to 25.4°C on 25 June, then to 26.7°C on 26 June, reaching 27.4°C on 27 June.
The forecast for individual countries showed Hungary rising to 29.7°C, Serbia to 28.1°C, Croatia to 27.5°C, and Montenegro to 30.9°C by 27 June. The report linked this temperature path with higher cooling demand expectations in evening residual-load hours.
Bidding implications from H14-to-H21 spreads for flexibility assets
The session’s trading conditions highlighted a large intraday spread between low and high hours on HUPX for flexibility strategies based on shifting energy between time blocks. The spread referenced ran from an H14 trough near €60/MWh to an H21 spike above €600/MWh. This created one of the clearest arbitrage windows in the recent daily sequence described.