On 30 April 2026, the day-ahead power market across Southeast Europe (SEE) and Central Europe witnessed a notable decline in prices. The Hungarian Power Exchange (HUPX) recorded a settlement price of €89.82/MWh, reflecting a decrease of €22.8/MWh from the previous day. Similarly, the SEEPEX in Serbia saw its price drop to €91.79/MWh, down by €15.3/MWh. Other regional hubs also experienced corrections, with Romania’s OPCOM at €90.87/MWh, Bulgaria at €85.92/MWh, Greece at €86.43/MWh, Croatia at €82.56/MWh, Slovenia at €81.87/MWh, and Montenegro at €82.64/MWh. Notably, Albania diverged from this trend with an increase to €96.33/MWh, while North Macedonia’s price rose to €85.87/MWh.
The trading dynamics reflected a classic scenario of solar-midday compression versus evening scarcity spread. Hourly pricing data indicated weak or negative midday prices contrasted with pronounced peaks in the evening hours, particularly between H20 and H21. In Hungary’s 7-day forecast for 30 April, the base price was set at €89.8/MWh; however, it experienced fluctuations with a minimum of -€28.2/MWh and a maximum reaching €248.5/MWh. In comparison, Serbia maintained a more stable pricing profile with SEEPEX reporting a base of €91.8/MWh and peak prices of €75.8/MWh.
Demand fundamentals remained robust despite the price corrections; regional consumption increased to 30,297 MW—up by 1,115 MW day on day—while total generation fell by 715 MW to 27,408 MW. Imports remained crucial for balancing supply and demand at 1,583 MW but decreased by 190 MW compared to the previous day. The generation mix was predominantly hydro-based (6,638 MW), followed by nuclear (5,428 MW), coal (5,190 MW), solar (4,868 MW), gas (3,224 MW), wind (1,233 MW), and other sources contributing 828 MW.
Cross-border trading patterns indicated that the region continued as a net importer with an average net import balance of -1,583 MW across SEE markets: Hungary (-518 MW), Serbia (-553 MW), Bulgaria (-314 MW), Romania (-393 MW), and Croatia (-213 MW). Greece stood out as a net exporter with +130 MW. This reliance on imports helped support evening pricing despite overall weaker daily averages; core imports from Austria and Slovakia into Hungary/Slovenia remained substantial at 3,196 MW.
Forward market indicators displayed resilience despite the downward trend in spot prices. Prices for Hungarian power forwards increased slightly: Week 19 reached €102/MWh; Week 20 settled at €96/MWh; May-26 was priced at €96.5/MWh; and Cal-26 moved up to €113/MWh. Gas prices also firmed up with CEGH reported at €47.03/MWh while Greek gas hovered around similar levels of approximately €47/MWh.
The forward coal market showed upward movement as well; May-26 API2 was priced at $110.5/t and Q3-26 at $119.5/t while EUA prices softened to €73.2/t. This forward curve suggests that market participants are factoring in fuel risks and potential summer reserve challenges even as spot prices are influenced by intraday renewable generation fluctuations.
A key takeaway from this trading session is not merely the average daily price but rather the evolving shape value: midday prices remain susceptible to significant drops driven by solar output while evening hours continue to reflect scarcity premium dynamics. The value of flexible resources such as batteries, pumped hydro storage, gas generation flexibility, hydro dispatch capabilities and intraday optimization strategies is increasingly recognized in this context.
Overall, Serbia and Albania exhibited stronger relative pricing resilience compared to Hungary which maintained its status as the regional reference hub amidst pressures faced by Slovenia, Croatia, Montenegro and Austria due to heightened exposure to Central European solar price fluctuations.
