In Week 15 of 2025, electricity prices in most Southeastern European (SEE) countries saw a slight increase, with the exceptions of Italy and Greece. The price surge came as markets assessed the potential impact of new U.S. tariffs on energy and concerns about slowing global growth affecting demand, despite lower electricity demand and falling gas and COâ‚‚ prices.
The week began with prices exceeding €100/MWh, rising sharply until mid-week before tapering off. Turkey and Serbia experienced the highest percentage increases, with prices rising by 30.15% and 14.65%, respectively. Hungary and Romania followed, with increases of 9.40% and 7.45%. Bulgaria and Croatia saw increases of 6.73% and 6.14%, respectively. However, Italy and Greece recorded a decline in electricity prices, supported by easing demand and abundant renewable energy generation.
During the second week of April 2025, average weekly spot electricity prices in Central Europe generally rose, except in the Czech Republic and Switzerland. Prices in major Central European countries stayed below €90/MWh, as reduced electricity demand due to warmer weather helped keep prices low. The price range in the region was between €39–90/MWh, with Slovakia having the highest average price at €90.84/MWh — a 2.92% increase from Week 14. Slovenia followed with an average of €90.39/MWh. France recorded the lowest price at €38.55/MWh, rising by 0.76% from the previous week. Across Europe, average prices for Week 15 hovered around €80/MWh, ranging from €31.09/MWh in Portugal to €102.40/MWh in Italy. In the MIBEL market, prices rose to €31.09/MWh in Portugal and €31.24/MWh in Spain, with increases of 8.78% and 9.15%, respectively.
In Southern Europe, all SEE countries reported electricity prices below €100/MWh, except for Italy and Greece. Prices ranged from €67–102/MWh, with Turkey registering the lowest weekly average at €66.62/MWh. Croatia followed as the second cheapest market in the region, with an average price of €92.29/MWh during the second week of April. Italy posted the highest average price at €102.40/MWh, but this marked a 10.36% drop compared to the previous week. Greece recorded the second-highest price at €100.48/MWh. Regarding daily prices, the week of April 7 saw most SEE markets peak on Wednesday, April 9, with the lowest prices recorded on Friday, April 11.
In Week 15, electricity demand in SEE countries decreased significantly, with all markets except Greece reporting lower demand. Warmer temperatures and clear skies reduced heating needs, resulting in a 5.04% drop in total SEE electricity demand compared to Week 14, totaling 15,670.15 GWh. Hungary recorded the largest decline at 19.96%, followed by Romania and Serbia with drops of 11.02% and 9.89%, respectively. Bulgaria, Italy, Croatia, and Turkey also saw demand decreases of 7.55%, 4.97%, 2.31%, and 1.64%, respectively. Conversely, Greece was the only country to see an increase in demand, rising by 1.34%, due to unseasonably cold and stormy weather on April 7, which brought rain, chilly winds, and even snow in the north for two days.
Variable renewable generation in SEE increased in Week 15 by 18.3%, totaling 2,407.79 GWh. Higher wind speeds across the region boosted wind generation, while solar output also increased. Wind generation rose by 19.2%, reaching 1,480.29 GWh, with Greece, Serbia, and Turkey leading the way with increases of 81.2%, 29.5%, and 22.6%, respectively. However, wind generation declined significantly in Croatia and Italy, dropping by 52.6% and 26.8%, respectively. Solar generation in the region jumped by 16.8%, reaching 927.50 GWh, with Bulgaria seeing the largest increase at 120.8%, followed by Romania and Turkey with increases of 42.7% and 20.7%, respectively.
Hydropower output in SEE also increased during Week 15, rising by 3.77% from Week 14 to reach 2,440.80 GWh. Half of the SEE countries saw higher hydropower generation, with Greece and Italy showing the largest gains at 17.47% and 13.74%, respectively, followed by Hungary and Turkey with increases of 13.72% and 10.13%. In contrast, Bulgaria, Croatia, and Serbia saw decreases in hydropower generation by 29.67%, 23.80%, and 7.63%, respectively.
Thermal power generation surged in SEE during Week 15, increasing by 12.99% compared to the last week of March 2025, reaching 6,269.85 GWh. Coal-fired generation rose by 11.25%, reaching 2,482.10 GWh, and gas-fired generation grew by 14.17%, totaling 3,787.76 GWh. Turkey led the growth in thermal generation, with coal-fired output up 18.41% and gas-fired up 45.85%. Greece saw a significant increase in lignite-fired generation, which surged by 137.73%, while gas-fired generation dropped by 26.89%. Bulgaria’s coal generation grew by 2.66%, and its gas-fired output rose by 10.01%. Italy also recorded growth in both coal (1.97%) and gas (8.38%) generation.
In terms of cross-border electricity trade, net imports across the SEE region increased by 6.59% in Week 15, reaching 1,292.91 GWh. Exports from the region fell sharply by 47.3%, totaling 57.26 GWh, while imports rose by 2.2%, totaling 1,350.17 GWh. Romania and Italy saw net imports increase by 30.37% and 1.50%, respectively. Greece and Hungary experienced significant drops in net imports, falling by 37.52% and 20.0%, respectively. On the export side, Bulgaria saw a large increase in net exports of 108.77%, while Turkey’s exports fell by 72.93%. Additionally, Serbia and Croatia shifted from being net exporters to net importers, with Serbia importing 6.14 GWh and Croatia importing 72.84 GWh.
