Week 24 underlined how fragmented Southeast Europe’s electricity markets remain. Regional averages moved lower, but each country carried a distinct price, generation and trade signal.
Serbia was the clearest price-correction market. Its average fell 21.5% to €78.22/MWh, helped by a 76.8% increase in variable renewable output and only 2.0% demand growth. Yet coal generation rose by 66.0 GWh, and SEEPEX volume remained thin at 120 GWh, limiting the value of the price signal for deeper hedging.
Italy was the premium demand sink. Its average price stood at €123.17/MWh, even after a weekly decline. Demand increased 6.7% to 5.12 TWh, net imports reached 1.08 TWh, thermal generation rose 17.6%, and LNG inflows recovered to 3,803.52 GWh. Italy remained the market pulling surplus electricity from surrounding systems.
Greece moved against the regional price trend. Its average rose 2.6% to €91.53/MWh, as demand increased 5.8% to 1.01 TWh. Solar output rose 22.8%, but wind fell 31.4% and hydro declined 17.3%, leaving the market exposed to a split renewable signal.
Bulgaria strengthened its export role. The average price fell 7.2% to €93.58/MWh, while demand rose 3.0%. Hydro declined 21.8%, but renewable and thermal support allowed net exports to rise 103.2%. Bulgaria again showed its importance as a Balkan balancing and transit market.
Hungary reduced imports but stayed expensive. Net imports fell 60.3%, and variable renewable output rose 21.2%, yet the weekly average remained €98.71/MWh. On June 17, Hungary was the highest SEE daily price point at €123.79/MWh, confirming its exposure to Central European tightness.
Croatia softened through hydro support rather than renewable strength. Variable RES output fell 35.9%, but hydro generation rose 43.5%, net imports declined 8.9%, and LNG flows remained stable at 640.83 GWh. Its average price fell to €92.02/MWh.
Türkiye remained structurally detached. Its price averaged only €22.85/MWh, while demand rose 3.8% to 6.74 TWh. Wind generation more than doubled, coal output rose 260.6 GWh, gas-fired generation fell 20.8%, and net exports increased 53.1%. Türkiye remained the region’s low-cost outlier rather than a converged European market.
