Day-ahead electricity prices rose across nearly all Southeast European trading hubs on Tuesday, returning regional benchmarks to above €100/MWh. The move followed stronger weekday demand alongside higher thermal generation and renewed import requirements. Regional electricity consumption increased to 29.2 GW, up more than 1.1 GW versus Monday.
Total generation also expanded, rising by approximately 5.6 GW to 28.6 GW. Output gains were reported across nearly every major generation technology. Solar generation recovered to 6.6 GW, while hydro output increased to 6.5 GW.
Day-ahead price moves across SEE trading hubs
Hungary’s HUPX market led the region, settling at €127.73/MWh, up €11.5/MWh day-on-day. Romania’s OPCOM rose to €124.02/MWh, and Croatia’s CROPEX climbed to €121.76/MWh. Slovenia’s BSP closed at €121.10/MWh.
Serbia’s SEEPEX recorded one of the largest increases, jumping €30/MWh to €118.15/MWh. Bulgaria’s IBEX reached €117.40/MWh, while Greece’s HENEX ended at €114.46/MWh. Albania remained the lowest-priced market at €78.86/MWh, despite a substantial daily increase.
Generation mix shifts as solar, gas and wind rise
The price rally coincided with higher output from multiple fuel sources and technologies. Gas-fired production recorded one of the largest increases, rising above 4 GW. Wind generation more than doubled compared with the previous day.
Nuclear generation stayed stable at around 4.1 GW. Even with the rise in renewable and thermal output, prices remained elevated across the Central and Southeast European power complex. Market commentary linked the situation to ongoing tightness in regional supply-demand conditions.
Cross-border flows and congestion signals in Central Europe
Southeast European markets continued to trade at a premium relative to Western Europe, according to market participants. The Hungarian-German day-ahead spread widened to almost €31/MWh. This was cited as reflecting congestion and scarcity across Central Europe.
Cross-border flows supported that picture, with net imports into the wider SEE region increasing to around 767 MW. Imports through core Central European corridors exceeded 1.8 GW. Strong inflows from Austria and Slovakia were reported as supporting Hungarian and regional balances.
Italy remained an important destination for electricity exports, attributed to its premium pricing environment. These flow patterns were discussed alongside the day-ahead price increases across regional hubs.
Forward curve higher; gas and carbon costs remain elevated
Forward markets also moved higher as participants priced tighter summer conditions. Hungarian week-ahead contracts traded around €114.5/MWh, while July products climbed to €122.5/MWh. Prompt contract strength was associated with expectations for stronger cooling demand and higher evening ramp requirements.
The same forward pricing was linked to continued reliance on thermal generation during periods of weaker renewable output. Fuel markets offered limited relief, with Austrian CEGH gas contracts strengthening above €51/MWh. EU carbon allowances were close to €77/t.
This level of carbon pricing maintained elevated marginal costs for gas-fired plants across the region. Coal futures also edged higher, adding support for the price floor across thermal generation assets.
Serbia policy updates and regional investment announcements
In Serbia, authorities approved the environmental assessment framework for the planned Bistrica pumped-storage hydropower project. The project is expected to become one of Serbia’s most important flexibility assets as renewable penetration increases.
Industry data also indicated that more than 60 renewable energy facilities have exited Serbia’s historic feed-in tariff scheme since 2022. This was described as gradually increasing exposure of generators to wholesale market dynamics.
Energ transition finance: PPC renewables, battery incentives and Mintia progress
The European Bank for Reconstruction and Development approved a €175 million financing package supporting approximately 400 MW of new renewable projects by PPC. The package covers projects in Greece, Bulgaria and Romania.
Batteries in Slovenia; Mintia gas plant in Romania
Slovenia launched a €10 million battery storage incentive programme. Romania confirmed that the Mintia gas-fired power plant (1.7 GW) has reached more than 80% completion, with first generation expected later this year.
Tight fundamentals expected into summer demand period
The combination of rising demand, stronger thermal dispatch and continuing import dependence was cited as keeping Southeast European markets tight despite improving renewable production levels. Temperatures were expected to remain seasonally warm during the period ahead.
Together with strengthening forward curves, traders were described as maintaining a bullish near-term view of regional power prices as the market moves deeper into summer demand.