North Macedonia day-ahead trading rises 27.6% to 186,900 MWh

North Macedonia’s day-ahead market traded 186,900 MWh in October, while its average market-clearing price rose 49.3% from September to EUR 224.74/MWh. Tighter regional conditions lifted wholesale power costs across Southeast Europe.
Market Snapshot SEE Power · Day-Ahead
Market Avg Price vs Yesterday
🇷🇸 Serbia — —
🇭🇺 Hungary 307.07 €/MWh —
🇷🇴 Romania — —
🇧🇬 Bulgaria — —
🇭🇷 Croatia — —
🇸🇮 Slovenia — —
🇬🇷 Greece — —
🇲🇰 N. Macedonia — —
🇲🇪 Montenegro — —
🇦🇱 Albania — —
Delivery: 05 Nov 2026  ·  Updated: 05 Nov 2026 15:03

Romania proposes 2027 end to mandatory forward power trading

Romania’s Energy Ministry has proposed keeping mandatory forward electricity-trading requirements in place through 2027, then ending them on December 31. The change could affect exchange-listed hedging volumes and procurement choices for utilities and traders.

Greece lifts net power exports 52.83% to 208.38 GWh

Greece increased net electricity exports by 52.83% in the week to November 1, while remaining the lowest-priced of seven major regional power markets. Its weekly average day-ahead price rose, but stayed below prices in Romania and Italy.

Several Southeast European markets top roughly €330/MWh at evening peaks

Recurring evening electricity price peaks strengthened the commercial case for flexible generation, demand response and storage across Southeast Europe. The available weekly data do not establish project returns.

CBAM evidence gap could cost Western Balkan wind €8.9 million

Low-carbon electricity from Western Balkan renewable projects will not automatically qualify for actual-emissions treatment under the EU’s CBAM. The Energy Community Secretariat modelled €8.9 million in opportunity costs for a 130 MW wind project over six months if it had to sell locally instead of accessing higher-priced EU markets.

Western Balkan-EU power exchanges fall 17.8% as day-ahead trade grows

Scheduled electricity exchanges between the Western Balkans Six and neighbouring EU markets fell 17.8% in January–September 2026, while regional day-ahead trading volumes rose 26.7% year on year in the third quarter. The Energy Community Secretariat’s assessment links the diverging trends to a market in which CBAM costs and conditions increasingly shape cross-border trade.

EU power importers face CBAM deadline on 30 September 2027

EU electricity importers must declare embedded emissions and surrender CBAM certificates for power imported in 2026 by 30 September 2027. Certificate purchases begin in February 2027, making emissions evidence and the allocation of costs relevant to electricity contracts.

HUPX October day-ahead volume rises 6.9% to 2.64 TWh

Hungary's HUPX day-ahead traded volume rose in October as average baseload prices climbed 36.8% from September. Higher trading alongside higher prices pointed to stronger turnover amid tighter regional power conditions.

Romanian day-ahead power price hits EUR 239.32/MWh in October

Romania's day-ahead electricity price rose 35.87% from September and nearly doubled year on year, while traded volume remained below its October 2025 level. Transaction value climbed as higher prices outweighed limited volume growth.

SEE prices stay above Germany as Serbia settles at €307.65/MWh

Southeast European day-ahead prices fell across most markets on November 6 but remained above German and Italian levels. Regional imports declined, while higher forecast solar output added daytime supply without removing the price premium.

Ahold Delhaize agrees 370 GWh Romanian virtual power deal

Ahold Delhaize has agreed to buy the equivalent of 370 GWh of electricity annually for 10 years through a virtual power purchase agreement linked to wind and solar projects in Romania. The contract covers about 14% of the projects’ combined expected output.

OFAC gives MOL until February 2027 to prepare NIS stake purchase

OFAC has authorized MOL and MOL Serbia to continue preparatory work for a potential acquisition of the Russian-held stake in NIS until February 28, 2027. A separate US authorization is still required to transfer ownership.

Bulgaria reports 6.23 GW battery fleet as storage expands

Bulgaria’s operating battery fleet was reported at 6.23 GW by late October, while EBRD and Raiffeisen are financing a new 246 MW battery at Tenevo. The reported fleet and energy-flow figures require verification against underlying data.

About 220 negative-price hours sharpen Croatia battery case

Croatia had about 220 hours of negative electricity prices in the first half of 2026 as renewable generation expands. AdriaFlex is seeking partners for a 170 MW standalone battery portfolio, while wpd plans to pair a repowered wind farm with storage.

Serbia power prices reach nearly €287/MWh, raising buyer risks

Serbia’s weekly average electricity price reached €286.55/MWh in late October, more than double its 2026 year-to-date average. The rise renewed focus on procurement and trading exposure across Southeast Europe.

Bulgaria ombudsman proposes VAT cut after gas prices rise up to 56.5%

Bulgaria's ombudsman has proposed temporarily reducing VAT on residential natural gas from December 2026 through April 2027. The proposal follows a 46.3% to 56.5% year-on-year rise in regulated household gas prices, but the government has not said whether it will adopt the measure.

Romania pairs Neptun’s 8 bcm gas target with solar and storage

Romania is expanding Black Sea gas production while adding utility-scale solar and battery storage. Neptun Deep could nearly double domestic gas output and create export capacity for neighbouring markets.

Greece advances power gateway plans with link costing up to €15 billion

Greece is advancing electricity links and LNG supply arrangements to expand its role as an energy gateway between the eastern Mediterranean and wider European markets. Proposed interconnections include a Greece-Germany link estimated to cost up to €15 billion.

Bosnia’s €1.5 billion gas link faces route and financing hurdles

Bosnia and Herzegovina’s Southern Interconnection is held up by disputed state property and disagreements over project implementation. While a former BH-Gas director says completion before 2030 looks unlikely, EU-backed efficiency financing is moving through a local bank.

European TTF gas could reach €150/MWh as diesel stays tight

A 4 November assessment projects volatile European gas prices and persistent diesel tightness through winter 2026 to 2027. The conditional scenarios depend on weather, LNG availability, refinery operations and the recovery of disrupted oil flows.

JANAF halts Croatian crude flows after estimated 500 cubic metre spill

Croatian oil-pipeline operator JANAF halted crude transport on part of the Sisak-Slavonski Brod route after pipeline equipment was damaged near Prvca. The spill is estimated at 500 cubic metres.

MOL posts $1.25 billion pre-tax profit on refining strength

Hungarian energy group MOL reported a pre-tax profit of about $1.25 billion in the third quarter of 2026. Stronger refining margins, higher natural-gas prices and exceptional financial gains supported earnings despite continued pressure on petrochemicals and regulated retail margins.

US extends NIS licence to 11 December 2026, keeping refinery operating

The licence extension allows Serbia’s only crude-oil refinery to continue operating, but leaves the country exposed to Russian gas supply and sanctions-related risks.

European TTF gas could reach €150/MWh as diesel stays tight

A 4 November assessment projects volatile European gas prices and persistent diesel tightness through winter 2026 to 2027. The conditional scenarios depend on weather, LNG availability, refinery operations and the recovery of disrupted oil flows.

Burgas output of 240,000-260,000 tonnes shapes Balkan diesel supply

Diesel supply and prices across Southeast Europe depend on refinery performance and the routes available to move replacement fuel. Disruptions can redirect trade and raise costs across borders.

Albania prepares 300 MW solar auction requiring battery storage

Albania is preparing a 300 MW solar auction that will require battery storage, with the EBRD assisting on tender design and procurement. The tender would combine solar generation and storage as an integrated system as the country seeks to reduce its dependence on hydropower.

Greek renewable curtailment reaches 2.063 TWh, strengthening storage case

Rising curtailment and falling solar capture prices in Greece are increasing the importance of storage and shaped power contracts for financing new photovoltaic projects across Southeast Europe.

Bulgaria’s battery fleet exceeds 6 GW as solar shifts to storage

Battery operators across Southeast Europe are increasingly buying solar-heavy midday electricity and shifting it for sale in later hours, with Bulgaria leading the trend. Serbia has begun recording negative day-ahead prices, which can provide a variable source of low-cost electricity for storage.

Bulgaria Battery Fleet Exceeds 6 GW as Solar Moves to Storage

Battery operators across Southeast Europe are increasingly buying solar-heavy midday electricity to sell later, with Bulgaria leading the trend. Serbia has begun recording negative day-ahead prices, creating a potential but variable source of low-cost power for storage.

Montenegro requires assessment for 60 MW, 50 million euros Velestovo project

Montenegro’s Environmental Protection Agency has given Nu Energy two years to submit a full environmental impact assessment for its proposed Velestovo solar-and-storage project. The agency will decide whether the 60 MW scheme can proceed after reviewing its environmental effects.

Albania prepares 300 MW solar auction requiring battery storage

Albania is preparing a 300 MW solar auction that will require battery storage, with the EBRD assisting on tender design and procurement. The tender would combine solar generation and storage as an integrated system as the country seeks to reduce its dependence on hydropower.

Greek renewable curtailment reaches 2.063 TWh, strengthening storage case

Rising curtailment and falling solar capture prices in Greece are increasing the importance of storage and shaped power contracts for financing new photovoltaic projects across Southeast Europe.

Bulgaria’s battery fleet exceeds 6 GW as solar shifts to storage

Battery operators across Southeast Europe are increasingly buying solar-heavy midday electricity and shifting it for sale in later hours, with Bulgaria leading the trend. Serbia has begun recording negative day-ahead prices, which can provide a variable source of low-cost electricity for storage.

Bulgaria Battery Fleet Exceeds 6 GW as Solar Moves to Storage

Battery operators across Southeast Europe are increasingly buying solar-heavy midday electricity to sell later, with Bulgaria leading the trend. Serbia has begun recording negative day-ahead prices, creating a potential but variable source of low-cost power for storage.

Montenegro requires assessment for 60 MW, 50 million euros Velestovo project

Montenegro’s Environmental Protection Agency has given Nu Energy two years to submit a full environmental impact assessment for its proposed Velestovo solar-and-storage project. The agency will decide whether the 60 MW scheme can proceed after reviewing its environmental effects.

Serbia Business News

Regional Coverage

EU verifier guidance tightens evidence requirements for CBAM electricity

New European Commission guidance has shifted the European Union’s carbon border levy for imported electricity from a largely regulatory requirement into a detailed verification...

Serbia’s renewable developers face a two-market test under EU carbon rules

Serbian wind and solar developers are increasingly facing a route-to-market decision that goes beyond the traditional choice between merchant exposure and long-term power purchase...

Serbian industry’s renewable PPAs offer no automatic shortcut through CBAM

Serbian industrial companies are increasingly treating renewable power purchase agreements as tools for energy security, cost management and export competitiveness. Yet the growing use...

Europe’s green power imports discover that CBAM value is settled hour by hour

A Serbian wind or solar plant may produce electricity with negligible direct operational emissions. That does not mean, however, that an EU buyer can...

EU CBAM electricity claims rely on auditable MRV evidence chain

Renewable electricity has typically been traded using a set of instruments in which the producer supplies power, the trader handles scheduling and balancing, and...

Verified green electricity platform for CBAM-ready industrial supply in Serbia

Serbia’s verified green electricity platform is designed to connect wind generation, solar generation and 100 MW battery storage with industrial electricity demand and verified...

CBAM-ready electricity contracts in Serbia: evidence chains for producers and buyers

Under CBAM, indirect emissions are calculated by multiplying electricity consumed in production by an applicable electricity emission factor, which may be a grid factor...

CBAM indirect emissions shift: exporters need electricity metering architecture

The European Commission’s technical study on indirect emissions in the Carbon Border Adjustment Mechanism (CBAM) was published through DG TAXUD on 8 June 2026....

HEV earns more than EUR 2.5 million as Drina loss widens

HEV reported a profit for the first nine months of 2026, while Hidroelektrane na Drini’s consolidated loss widened. The results put cost control, hydrological conditions and asset performance in focus across the Republic of Srpska hydropower fleet.

Montenegro hydro output drops 36.3% as Balkan supply risks rise

Drought is reducing hydroelectric output and constraining nuclear generation across the Balkans, increasing exposure to electricity imports. The pressure highlights the role of diversified generation, storage and interconnection.

Montenegro’s Italy power exports rise around 80% as hydro risks grow

Weak hydro production is increasing Montenegro’s import risks and the value of a diversified energy portfolio. Electricity exports to Italy were around 80% higher in Q3 2026 than a year earlier, according to Energy Community monitoring.

Croatia day-ahead prices rise 14.3% to nearly €271/MWh

Croatia recorded Southeast Europe's largest weekly increase in average day-ahead electricity prices in the week to November 1, despite higher renewable output and lower net imports. Its price premium over Greece widened to €15.88/MWh.

Slovenia advances Mokrice hydropower project towards construction

Slovenia’s government has found that the public benefits of the Mokrice hydropower project outweigh its environmental impact, clearing another major regulatory hurdle for the...

Greece prices fall 16.4% as southeast European markets ease

Day-ahead prices for 8 November delivery fell 16.4% in Greece and 10.1% in Serbia, while Montenegro’s premium over Serbia widened. Romanian nuclear output rose after Cernavodă Unit 1 reconnected to the grid, although the available data do not isolate its effect on prices.

Montenegro day-ahead prices rise 8.2%, overtake Serbia

Montenegro’s BELEN day-ahead average rose 8.2% to €295.37/MWh for 2–8 November 2026, moving above Serbia as regional demand increased and solar and hydro output fell. Regional imports also rose, while price gaps narrowed between several neighbouring markets.

Croatian employers seek power aid, faster €60 million scheme rollout

The Croatian Employers' Association has asked the government to create a national electricity-cost support programme for energy-intensive manufacturers under the EU's Clean Industrial Deal State Aid Framework. It also wants rapid implementation of a separate €60 million European Commission-approved scheme for eligible indirect emissions-trading costs.

Croatia employers press for €210/MWh supplier compensation ceiling

Croatia’s main employers’ association wants the government to raise the electricity cost ceiling used to calculate supplier compensation from €160/MWh to €210/MWh. The proposal remains unapproved as temporary price stabilisation measures approach their expiry in March 2027.

EU guidance clarifies export proof as Serbia’s default implies nearly €86/MWh

European Commission guidance clarifies customs recording for electricity imported through explicitly allocated transmission capacity. Serbian generators and EU importers will need auditable hourly and cross-border records to support claims based on actual emissions.

Romania extends energy emergency by 30 days amid winter supply risks

Romania extended emergency measures as nuclear outages tighten the power balance ahead of winter. The winter programme covers 1 November 2026 to 31 March 2027.

Romania’s 700 MW reactor return set for 6 November

Cernavodă Unit 1 is scheduled to resynchronise on 6 November after more than three months offline. Its availability, alongside other reactor restarts and outages, will shape winter import needs and power prices across Southeast Europe.

Romania imports power for 21 hours as nuclear outages persist

Romania imported electricity for 21 of 24 hours on 3 November despite renewables supplying around two-thirds of generation. Reactor restart prospects and the cost and timing of grid connections will shape supply and new project economics.

Nuclearelectrica targets 6 November restart for 700 MW Romanian reactor

Nuclearelectrica expects to reconnect Cernavoda Unit 1 on 6 November 2026 after more than three months offline because low Danube levels disrupted cooling-water supplies. Unit 2 is expected to remain offline until river conditions support both reactors operating simultaneously.

Turkey, South Korea sign three energy and industry accords

The agreements cover nuclear energy, clean technologies and industrial cooperation. A non-binding arrangement will let TUNAS and KEXIM examine financing structures for potential Turkish nuclear projects.

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