The 9 July 2026 Southeast European electricity market session showed wholesale prices concentrated around €120/MWh despite easing demand and lower regional net imports. The session featured reduced solar generation, higher thermal dispatch and continued strength in the Italian market premium. Price signals across central SEE exchanges pointed to tighter convergence among interconnected markets, while Italy remained structurally more expensive. Serbia and North Macedonia traded at a discount relative to the wider region.
Day-ahead price band across Hungary, Romania, Bulgaria, Greece, Croatia and Slovenia
On main day-ahead platforms, HUPX Hungary settled at €123.62/MWh, down €4.5/MWh versus the previous day. Romania’s OPCOM closed at €119.97/MWh, while Bulgaria’s IBEX ended at €119.92/MWh. Greece’s HENEX settled at €120.01/MWh, with Croatia at €121.23/MWh and Slovenia at €122.50/MWh. Together, these markets formed a narrow €120–123/MWh band.
Main outliers: Serbia, North Macedonia and Italy premium
The session’s main exceptions were Serbia, North Macedonia and Italy. Serbia’s SEEPEX average price was €107.23/MWh, a discount of €16.40/MWh versus HUPX. North Macedonia recorded the lowest regional price at €103.05/MWh. Italy remained the regional leader at €153.73/MWh, maintaining a premium of more than €30/MWh over Hungary.
Softer demand and lower imports reduce pressure on regional balances
Total SEE plus Hungary electricity consumption fell to 31,575 MW, down 920 MW day on day. Regional net imports dropped to 907 MW, decreasing by 1,639 MW. Imports from Core Europe through Austria and Slovakia also declined sharply to 1,865 MW, down by 1,689 MW. Germany’s price increase to €124.21/MWh brought HUPX close to the German level.
Generation mix shifts toward thermal units as solar and wind ease
The generation profile supported higher prices even with lower demand. Solar output decreased by 760 MW to 6,236 MW, while wind generation fell to 1,141 MW. Hydro generation rose by 279 MW to 5,362 MW, but it did not fully offset weaker renewable availability. Coal generation increased by 294 MW to 6,514 MW, and gas-fired output rose by 236 MW to 4,546 MW.
Intraday volatility follows renewable cycles; Serbia posts highest evening spike
Error correction note: intraday patterns and Italy’s daily minimum remain high; Montenegro transit flows rise during peaks
The intraday pattern remained linked to renewable production cycles across the region. On HUPX, the low reached €36.70/MWh during H15, while the evening peak reached €206.10/MWh at H22. Similar midday lows and evening ramps were seen on Germany, Romania, Bulgaria, Greece, Croatia and Slovenia.
The strongest evening volatility was recorded in Serbia. Its daily average remained relatively low compared with other markets, but prices reached €227/MWh at H22, the highest evening spike among the analysed SEE exchanges.