Türkiye was the lowest-priced market in Southeast Europe in Week 24, with the average day-ahead electricity price at €22.85/MWh. The figure was far below Serbia at €78.22/MWh, Greece at €91.53/MWh, Bulgaria at €93.58/MWh, Hungary at €98.71/MWh, and Italy at €123.17/MWh. The size of the gap continued to reflect Türkiye’s distinct supply conditions and a relatively weak link to broader European price movements.
Demand rises while variable renewables expand
The lower price environment did not coincide with weaker consumption. Turkish electricity demand increased by 246.7 GWh, or 3.8%, reaching 6.74 TWh. Türkiye also contributed to regional demand growth during the week.
Supply-side changes were central to the pricing outcome, with variable renewable generation rising by 368.8 GWh, or 67.1%. Wind generation drove much of the increase, with output up by 105.9% versus the previous week. The higher wind availability expanded volumes of lower-cost electricity in the market.
Hydropower declines and coal takes a larger role
Hydropower moved in the opposite direction, with Turkish hydro generation falling by 229 GWh, or 8.6%. The decline accounted for most of the overall reduction in hydro output across the region. In other European markets, such a drop would typically raise reliance on gas-fired generation and affect prices.
Türkiye instead increased coal-fired generation as gas output declined. Coal output rose by 260.6 GWh, or 21.3%, while gas-fired generation fell by 20.8%. This shift changed the balance within thermal generation during the week.
Exports increase amid persistent regional price separation
The combination of stronger wind and weaker hydro shaped weekly market conditions. Higher wind output reduced the need for gas-fired power, while coal provided more balancing as hydropower declined. Wholesale prices remained well below European levels despite rising electricity demand.
The lower-cost supply also supported Türkiye’s external position, with net electricity exports increasing by 53.1% over the week. For market participants across Southeast Europe, Türkiye’s price discount remained a consistent feature of regional trading conditions.
Commercial opportunities linked to the separation were constrained by interconnection capacity, differences in market design, and cross-border scheduling limits. Türkiye therefore continued to operate as a low-price power island alongside a higher-priced European electricity market while remaining only partially integrated into regional price formation.