Southeast Europe power prices hold above €200 as Serbia tops day-ahead market

Southeast European electricity markets were under price pressure for delivery on 13 October, with Serbia recording the highest day-ahead baseload price among the regional exchanges covered. Alongside that, a widening premium between Hungary and Germany pointed to continued barriers to electricity price convergence across Central and Southeastern Europe.

On the Serbian market, SEEPEX day-ahead baseload reached €228.17/MWh, down €2.60 from the previous session. The HUPX benchmark in Hungary fell by €11.90 to €223/MWh. Montenegro’s BELEN settled at €206.40/MWh, keeping a discount versus Serbia and Hungary.

Greece and Bulgaria traded at around €224.60/MWh, indicating that high electricity prices remained widespread across the region despite declines in several markets. The same session showed different levels of price movement across exchanges, with Germany standing out for a sharper drop in day-ahead pricing.

Germany’s day-ahead drop widens Hungary-Germany premium

The largest change was recorded in Germany, where day-ahead electricity prices fell by €37 to €160.23/MWh. That move widened Hungary’s premium over Germany to €62.78/MWh, up by €25.10. The gap reflected continued separation between German prices and higher eastern European levels while cross-border imports supported regional supply.

The physical outlook for Tuesday combined higher demand with lower net imports across Hungary and Southeast Europe. Electricity consumption was forecast to rise by 858 MW to 31,194 MW, while net regional imports were expected to decline by 732 MW to 2,946 MW. With demand increasing as imports fell, regional generation was expected to contribute more, but not enough to align prices with German levels.

Tighter import flows supported by higher wind and output growth

Regional generation was projected to increase from 26,659 MW to 28,249 MW, a gain of 1,590 MW. Wind output was forecast to rise by 1,458 MW to 4,316 MW, partly offsetting a decline in solar generation of 978 MW to 2,685 MW. The generation mix suggested that stronger renewables could reduce import dependence without eliminating the regional price premium.

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro

Import balances diverge across Serbia, Hungary, Bosnia and Montenegro