During Week 43 of 2025, electricity market prices in Southeast Europe (SEE) declined noticeably compared to Week 42, mainly due to mild weather conditions and increased power generation from wind farms. Despite the decrease, all SEE markets recorded weekly average prices above €108/MWh, except Türkiye. Croatia and Romania registered the steepest price drops, at -19.19% and -18.77%, respectively. Bulgaria followed closely with a decline of -18.75%, while Serbia recorded a decrease of -18.67%. Türkiye and Italy were the only markets to post single-digit declines of -0.57% and -6.48%, respectively.
In the fourth week of October, most Central European electricity markets also saw prices trend downward, averaging around €68/MWh. This was largely due to a surge in renewable energy production combined with steady electricity demand. Prices in the region ranged between €34/MWh and €107/MWh. Switzerland was the most expensive market, with an average of €107.11/MWh, marking a -6.28% decline from Week 42, followed by Austria at €106.83/MWh. France, on the other hand, recorded the lowest price in Central Europe at €34.01/MWh, a sharp drop of -56.83% compared to the previous week.
Across Europe in Week 43, the average electricity price stood at about €89/MWh. Prices varied from €34.01/MWh in France to €121.03/MWh in Serbia. In the MIBEL markets, prices fell sharply: Spain saw a -45.79% drop to €92.99/MWh, while Portugal recorded a -45.35% decline to €94.20/MWh. In Southern Europe, all SEE countries posted prices above €110/MWh except Türkiye. Prices in the region ranged from €59/MWh to €121/MWh, with Türkiye posting the lowest weekly average at €58.62/MWh, followed by Croatia at €108.19/MWh. Serbia registered the highest weekly average at €121.03/MWh, despite the -18.67% decline from mid-October. Hungary, Romania, and Bulgaria also ranked among the most expensive markets, with prices of €119.39/MWh, €118.00/MWh, and €117.94/MWh, respectively.
Daily fluctuations showed that most SEE markets reached their highest prices on Monday, October 20, and their lowest on Sunday, October 26. As the current week began, wholesale electricity prices continued to ease thanks to mild weather, maintaining a downward trend. Day-ahead prices on October 22 ranged from €99.12/MWh in Slovenia and €99.67/MWh in Croatia to €108.23/MWh in Serbia and €115.38/MWh in Albania.
Electricity demand in the SEE region decreased slightly during Week 43, falling by 0.7% week-on-week to 15,695.02 GWh. Temperatures remained steady compared to the previous week, resulting in stable consumption. Bulgaria and Romania recorded the largest demand declines at -3.59% and -2.38%, respectively, followed by Italy with -1.85%. Conversely, Hungary and Croatia saw increases in demand of 4.71% and 1.99%, respectively, while Greece recorded a modest rise of 0.15%.
Generation from variable renewable sources in SEE surged by 30.7% week-on-week, reaching 2,747.60 GWh. The growth was driven primarily by a sharp increase in wind generation, while solar output rose slightly. Wind power production jumped by 77.4% to 1,613.48 GWh during the week of October 20. All SEE countries reported higher wind output except Croatia. Hungary, Serbia, and Italy saw the largest increases in renewable generation, with jumps of 233%, 193.6%, and 183.4%, respectively. Romania, Bulgaria, and Türkiye also reported significant increases of 75.6%, 71.1%, and 60.0%. In contrast, solar generation fell by 4.9% to 1,134.11 GWh, driven by lower production in Türkiye (-52.57 GWh), Hungary (-28.05 GWh), and Italy (-78.21 GWh).
Hydropower generation in the SEE region declined by 5.85% compared to Week 42, totaling 1,417.06 GWh. The decrease was mainly due to lower output in Bulgaria (-32.23% or -15.81 GWh), Serbia (-22.46% or -30.15 GWh), Italy (-5.51% or -25.44 GWh), and Romania (-17.62% or -42.75 GWh). However, Hungary (30.87%), Croatia (30.73%), and Türkiye (3.80%) recorded higher hydropower generation.
Thermal power generation across SEE dropped by 4.92% week-on-week to 7,957.51 GWh, due to reduced output from both gas and coal-fired plants. Coal generation decreased by 1.38% to 3,385.00 GWh, while gas-fired generation fell by 7.38% to 4,572.51 GWh. Country trends varied: Türkiye saw a 0.41% increase in coal generation and a 3.27% rise in gas-based electricity production. In Bulgaria, coal generation dropped by 18.60%, and gas generation by 1.40%. In Greece, coal generation nearly ceased at 0.45 GWh (-98.99%), while gas generation fell by 11.86%.
Cross-border electricity trade in SEE rose significantly in Week 43, with net imports up 16.19% compared to Week 42, totaling 1,324.82 GWh. Imports grew by 12.9% to 1,402.68 GWh, while exports fell sharply by 24.0% to 77.87 GWh. Italy (+113.52 GWh), Serbia (+46.33 GWh), Hungary (+28.50 GWh), and Croatia (+9.37 GWh) all recorded notable increases in net imports. Meanwhile, Romania (-152.36%) and Greece (-38.14%) reduced their reliance on imported electricity. Bulgaria shifted from being a net exporter to a net importer, while Greece remained a net exporter with 34.75 GWh, and Türkiye also became a net exporter during the week.
