During Week 44 of 2025, electricity prices in Southeast Europe (SEE) declined slightly compared to Week 43, driven by milder weather and reduced demand. Despite the drop, most SEE markets maintained average weekly prices above €100/MWh, with the exception of Türkiye. Regional average prices hovered around €105/MWh. Prices were relatively stable at the start of the week, peaked on October 31, and then trended downward, settling between €51/MWh and €104/MWh toward the week’s end. Serbia and Hungary recorded the largest price decreases, at -11.58% and -10.47%, respectively, followed by Greece (-8.91%) and Romania (-8.31%). Italy was the only market to post a price increase, rising by 0.91%.
Across Central Europe, electricity prices also declined during the last week of October, averaging around €78/MWh. This decrease was largely due to higher renewable energy generation combined with steady demand. Prices in the region ranged from €45/MWh to €102/MWh. Switzerland recorded the highest weekly average at €102.34/MWh (a -4.44% drop from the previous week), followed by Austria at €97.98/MWh. France registered the lowest price in Central Europe at €45/MWh, which represented a sharp 32.31% week-on-week decline.
Across Europe, the average electricity price in Week 44 stood at approximately €91/MWh, with national averages ranging from €45/MWh in France to €112/MWh in Italy. The MIBEL markets saw sharp increases—Spain’s average price surged by 49.18% to €75.20/MWh, while Portugal rose by 46.60% to €75.47/MWh. In Southern Europe, all SEE countries except Türkiye recorded prices above €100/MWh, ranging between €56/MWh and €112/MWh. Türkiye posted the lowest average price in the region at €55.65/MWh, while Croatia followed with €100.41/MWh. Italy remained the most expensive market, with €111.57/MWh, up 0.91% from the previous week. Bulgaria (€108.21/MWh), Romania (€108.19/MWh), and Serbia (€107.02/MWh) were also among the highest-priced markets. Daily fluctuations showed that most SEE markets reached their price peaks on Friday, October 31, and their lowest levels on Sunday, November 2. As Week 45 began, wholesale electricity prices showed an upward trend. On November 5, Day-Ahead prices ranged from €106.63/MWh in Slovenia and €112.02/MWh in Croatia to €130.18/MWh in Serbia and €146.37/MWh in Albania.
Electricity demand in the SEE region softened slightly in Week 44, declining by -1.25% week-on-week to 15,498.35 GWh. Temperatures remained stable compared to the previous week, keeping overall consumption steady. Hungary and Serbia saw the sharpest declines in demand, down -7.41% and -3.86%, respectively, followed by Greece (-3.50%). Italy was the only SEE market to record an increase in demand, up 2.30%.
Generation from variable renewable sources fell moderately by -9.7% to 2,416.17 GWh during Week 44. The decline was mainly driven by a significant drop in wind power output, while solar generation also decreased. Wind generation fell by -14.5% to 1,392.13 GWh, with the steepest declines in Croatia (-36.2%), Serbia (-36.0%), and Italy (-27.7%). Romania and Hungary also saw lower renewable generation, down -18.7% and -11.4%, respectively. Solar generation in the SEE region decreased by -9.7% to 1,024.34 GWh, largely due to weaker output in Greece and Italy.
Hydropower generation, on the other hand, increased by 9.76% compared to Week 43, reaching a total of 1,561.83 GWh. The rise was mainly driven by higher production in Hungary (+91.86%) and Croatia (+90.04%), while Greece (-27.00%), Romania (-2.69%), and Italy (-0.54%) reported lower hydro output.
Thermal power generation in the SEE region dropped by -6.07% week-on-week to 7,474.29 GWh, due to reduced output from both gas- and coal-fired plants. Coal generation declined by -1.65% to 3,329.15 GWh, while gas-fired generation fell by -9.35% to 4,145.14 GWh. Türkiye saw coal generation fall by -2.54% and gas generation by -22.23%. In Bulgaria, coal output dropped by -7.16%, while gas generation increased by 9.46%. Greece recorded a small decline in both sources, with coal generation down -16.55% to 0.37 GWh and gas generation down -7.94%.
Cross-border electricity trade in the SEE region rose sharply in Week 44, as net imports increased by 31.79% compared to Week 43, totaling 1,596.41 GWh. Imports climbed by 27.5% to 1,402.68 GWh, while exports fell by -39.2% to 47.34 GWh. Italy (+238.75 GWh) and Hungary (+37.32 GWh) recorded the largest increases in net imports. Meanwhile, Serbia (-33.83%) and Croatia (-10.98%) reduced their dependence on imported electricity. Bulgaria shifted from a net exporter in Week 43 to a net importer in Week 44, and Greece also moved to a net importing position. In contrast, Romania and Türkiye remained net exporters, maintaining their positions from the previous week.
