On 4 June, Southeast European day-ahead electricity prices moved sharply lower for delivery as imports rose from Central Europe and wind and solar output weakened. Regional supply tightness eased alongside the change in generation and cross-border flows. Albania was the only major market posting gains.
Day-ahead settlements across regional exchanges
Hungary’s HUPX baseload contract fell by 27.7% day on day to €88.57/MWh, pulling most neighbouring markets down. Romania’s OPCOM and Bulgaria’s IBEX both settled at €91.05/MWh. Serbia’s SEEPEX closed at €91.61/MWh, while Slovenia’s BSP and Croatia’s CROPEX dropped to €75.30/MWh and €77.61/MWh, respectively.
In the Adriatic segment, market outcomes were more mixed. Albania’s ALPEX climbed 18.4% to €119.02/MWh, keeping a premium versus other Balkan markets.
Demand, generation mix and renewable output changes
Regional electricity demand remained broadly stable at 28.3 GW, while total generation decreased to 26.95 GW. That shift increased reliance on imports across the region. Wind output fell by about 675 MW, and solar generation dropped by 857 MW compared with the previous day.
Hydro generation partially offset the renewable decline, rising by 214 MW. With domestic production weaker, net imports into the SEE-Hungary region increased to 2,869 MW, up 1,300 MW day on day.
Cross-border flows and interconnector pricing signals
Imports from Austria and Slovakia through the Core region rose to 3,939 MW, an increase of 1,653 MW. The data pointed to Central European supply playing a larger role in balancing Balkan markets during the session.
The Hungarian-German day-ahead spread widened to €27.23/MWh. Cross-border flow figures showed Hungary as the principal import hub, with average net imports of 1,540 MW.
Romania imported 580 MW, Serbia imported 672 MW and Croatia imported 674 MW on average. Greece remained a net exporter at 581 MW, supported by stronger domestic generation.
Intraday price shape and forward market levels
Hourly profiles showed a pronounced solar-driven price collapse during midday hours across most exchanges, with several markets approaching zero-price territory. Evening ramps stayed elevated as solar output declined and thermal units returned to set marginal prices.
Despite weaker spot outcomes, forward contracts remained firm. Hungarian Week-24 baseload traded around €112/MWh, while Calendar-2026 contracts held near €114.50/MWh.
Gas, carbon and Italy–Southeast Europe spreads
Austrian gas prices were supportive for thermal economics, with CEGH month-ahead gas rising to €50.62/MWh. December 2026 EU Allowances traded around €78.6/tCO₂.
The pricing gap between Italy and Southeast Europe remained a focus for market participants. Italian day-ahead power traded at €136.96/MWh, more than €45/MWh above Serbia and Romania and around €43/MWh above Montenegro.
The spread supported higher utilisation of Adriatic interconnection capacity in the session data provided. It also aligned with expectations for western Balkans supply into Italy during periods of surplus renewable generation.
Weather outlook for weekend trading conditions
Weather forecasts indicated gradually rising temperatures across most Southeast European markets through the weekend. Improving solar conditions were expected to keep pressure on midday prices.
Evens were forecast to remain supported by strong Italian demand, elevated cross-border exports and continued dependence on imports during periods of weaker renewable generation.