During Week 36 of 2025, electricity market prices across Southeast Europe (SEE) rose moderately compared to Week 35. Most markets recorded weekly average prices below €100/MWh, with Italy being the exception, exceeding this level. Average prices across the region were around €88/MWh. Prices peaked on Friday, September 5, before declining toward the end of the week. Greece and Bulgaria saw the largest increases, at 15.97% and 15.25% respectively, followed by Romania at 11.89%, Hungary at 11.42%, and Serbia at 9.41%. Italy, despite having the highest overall price, experienced a slight decline of -3.06%.
In early September, most major European electricity markets stayed below €100/MWh, with France, Germany, Belgium, and the Netherlands reporting lower prices, while Central European markets maintained an average around €69/MWh. Weekly prices ranged from €29/MWh to €92/MWh, with Slovakia the most expensive at €91.91/MWh, up 4.34%, and France the cheapest at €28.79/MWh, down -48.98%. European weekly average electricity prices during Week 36 approximated €80/MWh, with Italy at €106.46/MWh and France at €28.79/MWh. In the Iberian MIBEL markets, Spain and Portugal recorded significant declines of -30.90% and -30.70%, reaching €45.17/MWh and €45.36/MWh, respectively.
In SEE, prices ranged from €61/MWh in Türkiye to €106/MWh in Italy. Greece followed Türkiye with €87.96/MWh, while Hungary and Romania were second and third most expensive at €94.84/MWh and €92.70/MWh, respectively. Daily peaks in SEE markets generally occurred on September 5, with the lowest prices on September 7. Early in Week 37, Day Ahead prices showed an upward trend, ranging from €111.45/MWh in Bulgaria and €112.05/MWh in Greece to €128.48/MWh in Hungary and €141.07/MWh in Albania.
Electricity demand in SEE rose 1.19% compared to Week 35, totaling 17,230.83 GWh, as lingering hot summer conditions increased air conditioning use. Greece and Hungary recorded the highest demand growth at 2.91% and 2.59%, followed by Romania at 2.35%, while Croatia and Bulgaria saw decreases of -3.36% and -2.28%.
Generation from variable renewables fell by -2.31% to 3,476.11 GWh due to lower wind and solar output. Wind generation dropped -3.4% to 1,611.27 GWh, with Serbia and Croatia experiencing the largest declines at -89.1% and -6.8%, while Bulgaria, Romania, and Italy saw gains. Solar generation decreased -1.3% to 1,864.84 GWh, with Romania and Greece seeing the largest reductions at -11.0% and -5.3%. Hydropower production increased slightly by 0.73% to 2,062.75 GWh, led by Italy (+18.62%) and Serbia (+5.61%), while Bulgaria, Hungary, Croatia, and Türkiye recorded lower output.
Thermal generation remained largely stable, decreasing -0.05% to 7,791.70 GWh. Coal-fired generation fell -3.09% to 3,414.58 GWh, while gas-fired generation rose 2.46% to 4,377.12 GWh. Türkiye saw coal drop -5.23% and gas rise 16.76%, while Bulgaria experienced declines in both coal (-10.65%) and gas (-19.07%) production. Greece produced minimal coal electricity (0.78 GWh) but saw a 6.76% increase in gas generation.
Cross-border trade in SEE showed net electricity imports increasing 18.67% to 1,133.17 GWh, while exports fell -11.0% to 178.83 GWh and imports dropped -26.1% to 1,312.00 GWh. Romania, Hungary, and Serbia recorded higher net imports of 191.23%, 45.52%, and 10.89%, respectively. Italy’s net imports slightly decreased by -0.78%. Greece, Bulgaria, and Türkiye remained net exporters, though their exports fell by -36.91%, -17.87%, and -39.92%, respectively.
Overall, Week 36 reflected moderate price increases, a recovery in demand, slight declines in renewable generation, and shifts in thermal production and cross-border flows across the SEE electricity markets.
