During Week 41 of 2025, electricity prices across Southeast Europe (SEE) rose noticeably compared to the previous week, driven by colder weather and reduced renewable generation. Most SEE markets recorded average weekly prices above €110/MWh, except for Greece and Türkiye. The regional average hovered around €108/MWh. Prices were highest early in the week, peaking on Tuesday, October 7, before falling to between €43 and €106/MWh toward the weekend.
Among the SEE countries, Hungary and Bulgaria registered the largest weekly increases in power prices, rising by 15.39% and 13.64%, respectively. Romania followed with a 13.58% increase, and Croatia saw a 13.34% gain. Serbia stood out as the only market to post a slight decline (-0.29%).
Across Central Europe, average electricity prices in the second week of October remained above €100/MWh due to lower renewable generation and stronger demand. Prices ranged from €78/MWh to €112/MWh. Slovenia recorded the highest average price at €111.66/MWh (up 11.73%), followed by Austria at €108.59/MWh. France had the lowest price in the region at €78.47/MWh, despite a sharp 103.98% week-on-week increase.
At the European level, the average weekly electricity price stood at about €98/MWh, ranging from €78.47/MWh in France to €121.46/MWh in Serbia. Prices in the MIBEL markets also climbed notably — Spain rose by 15.79% to €79.87/MWh, while Portugal increased by 16.62% to €80.48/MWh.
In Southern Europe, most SEE countries recorded prices above €100/MWh, except Türkiye. Regional prices ranged between €57/MWh and €121/MWh. Türkiye reported the lowest average at €56.63/MWh, followed by Greece at €102.09/MWh. Hungary posted the highest weekly average at €121.46/MWh, marking a 15.39% increase from late September. Romania, Bulgaria, and Serbia were also among the most expensive markets, with €120.04/MWh, €119.75/MWh, and €118.27/MWh, respectively.
Daily fluctuations showed the highest prices across most SEE markets on Tuesday, October 7, and the lowest on Sunday, October 12. As Week 42 began, wholesale prices trended upward. On October 15, day-ahead prices ranged from €158.21/MWh in Greece and €162.14/MWh in Slovenia to €191.27/MWh in Serbia and €262.10/MWh in Albania.
Electricity demand in the SEE region increased slightly in Week 41, rising by 0.27% week-on-week to 15,817.75 GWh, largely due to cooler autumn temperatures. Bulgaria and Romania saw the largest demand growth, at 7.49% and 7.44%, respectively. Serbia, Croatia, and Italy registered modest increases, while Greece and Türkiye recorded declines of -2.03% and -1.93%.
Renewable generation in the SEE region grew by 6.4% week-on-week, reaching 3,190.12 GWh. The increase was primarily driven by higher wind generation, which rose 16.9% to 1,841.19 GWh. Serbia and Italy led the growth, with surges of 185.8% and 121.8%, respectively. In contrast, Croatia, Türkiye, and Greece saw wind output fall by -35.3%, -15.5%, and -6.3%. Solar generation declined by -5.3% to 1,348.93 GWh, with the steepest drops in Greece (-21.8%) and Bulgaria (-14.7%).
Hydropower output across the SEE region fell by -7.46% compared to Week 40, totaling 1,638.78 GWh. The decline was mainly driven by lower production in Greece (-29.98%), Hungary (-19.32%), Italy (-14.56%), and Türkiye (-5.53%). However, Bulgaria and Romania recorded increases of 14.23% and 10.27%, respectively.
Thermal generation in the SEE markets rose marginally by 0.8% to 7,313.39 GWh, supported by slightly higher coal and gas output. Coal-fired generation increased by 0.87% to 3,495.85 GWh, while gas-fired generation grew by 0.73% to 3,817.55 GWh. Türkiye recorded increases in both coal (1.18%) and gas (0.76%) production. Bulgaria also saw a strong rebound, with coal generation up 12.26% and gas generation up 15.18%. In contrast, Greece experienced declines — coal-fired output fell by 35.59% to 41.31 GWh, and gas-fired generation dropped by 27.68%.
Cross-border electricity trade in the SEE region contracted sharply during Week 41, as net imports declined by 18.44% from Week 40 to 1,004.76 GWh. Imports fell by 12.3% to 1,093.93 GWh, while exports rebounded dramatically, surging 488.7% to 89.17 GWh. Italy (-181.89 GWh), Romania (-13.38 GWh), and Hungary (-8.11 GWh) recorded the largest drops in net imports. Meanwhile, Croatia (+66.6%) and Serbia (+50.98%) increased their reliance on imported electricity. Bulgaria shifted from being a net exporter to a net importer, while Greece became a net exporter with total net exports reaching 89.17 GWh.
