In Week 19 of 2025, electricity prices across Southeast Europe (SEE) saw significant increases, driven by higher gas and CO₂ costs, as well as increased electricity demand due to lower-than-average temperatures. Prices started the week around €100/MWh and gradually dropped, falling below €70/MWh by Sunday, May 11. Among SEE countries, Bulgaria and Greece recorded the highest weekly price increases—over 60%—followed by Romania (52.13%) and Serbia (45.37%).
The average electricity price across Europe during the week stood at €73/MWh, with the lowest observed in France at €9.61/MWh and the highest in Italy at €97.25/MWh. An unusual event unfolded in the Iberian Peninsula, where Portugal’s electricity price surged by 106.36% to €34.05/MWh, triggered by a temporary reduction in power imports from Spain following a major grid collapse and blackout. Meanwhile, Spain’s prices dropped by nearly 20%, creating a rare and sharp price disparity between the two typically aligned markets.
Electricity demand across SEE countries rose by 6.36%, totaling 14,426.39 GWh. Hungary saw the largest increase at 14.40%, followed by Italy at 13.02% and Romania at 11.25%. Smaller increases were noted in Serbia, Croatia, and Türkiye, while Bulgaria (-2.13%) and Greece (-0.23%) were the only countries to experience a decrease in demand.
The renewable energy landscape also shifted during the week. Solar power generation across SEE rose by 57.7%, reaching 1,644.90 GWh, with Italy recording a remarkable 293.8% increase. Conversely, wind generation fell by 24.8%, amounting to 1,310.47 GWh. Greece and Romania saw the steepest declines in wind output at -53.2% and -42.7%, respectively. Hydropower generation across the region increased by 42.97%, with Italy and Croatia leading the surge, followed by Bulgaria. However, Hungary and Türkiye experienced slight declines in hydropower output due to dry weather.
Thermal power generation in SEE markets jumped by 41.97%, reaching a total of 5,613.21 GWh. This was fueled by a 21.86% increase in coal-fired generation and a 62.62% increase in gas-fired production. Italy, Bulgaria, and Türkiye reported significant growth in both coal and gas generation, with Italy’s coal output rising by over 250% and gas by nearly 67%.
Cross-border electricity trade also shifted noticeably. Net electricity imports into the SEE region rose by 25.59% to 1,262.94 GWh. Romania, Türkiye, and Serbia notably increased their imports, while Italy and Croatia reduced theirs. Bulgaria switched from a net exporter to a net importer, while Greece remained an exporter, though at significantly reduced volumes.
