In Week 06 of 2025, electricity prices across the South Eastern (SEE) European markets experienced a slight increase, influenced by higher demand, a reduction in wind energy generation, and a significant rise in TTF gas futures, which reached their highest settlement in two years. All SEE markets saw electricity prices surge, except for Türkiye. Bulgaria and Italy experienced the most considerable price increases, with a rise of 8.86% and 8.36%, respectively, followed by Croatia (7.50%) and Serbia (7.38%). Greece saw an uptick in electricity demand, increasing by 5.63%.
During the first week of January 2025, the spot electricity prices in Central Europe climbed, driven by cold temperatures and reduced wind and solar energy. Prices surged above €130/MWh in all countries, and the week’s prices ranged from €132 to €151/MWh. Switzerland had the highest price in Central Europe at €150.88/MWh, an 8.47% increase from the previous week, followed by Slovakia at €142.18/MWh. The Netherlands had the lowest price in the region, with a 16.78% rise to €132.35/MWh.
In Week 06, European weekly average electricity prices traded around €128/MWh, ranging from €123.35/MWh in Portugal to €153.81/MWh in Italy. The MIBEL markets saw nearly double the prices compared to Week 05, with Portuguese prices reaching €123.35/MWh and Spanish prices at €123.59/MWh, marking increases of 94.77% and 94.08%, respectively. In terms of daily prices, several markets, including Germany, Belgium, France, Italy, and the Netherlands, saw prices exceeding €150/MWh, with Italy peaking at €155.76/MWh on February 9. In the southern part of Europe, all SEE countries, except Türkiye, had prices above €135/MWh. Türkiye remained the cheapest in the region with a weekly average of €65.44/MWh, while Greece had the second-lowest price at €135.01/MWh. Italy recorded the highest average price at €153.81/MWh, an 8.36% increase from the previous week. Hungary followed with €140.61/MWh. Most SEE markets saw their highest prices on February 3, with Serbia and Italy reaching daily peaks of €162.86/MWh and €155.60/MWh, respectively.
In Week 06 of 2025, electricity demand in SEE countries increased, with a 5.46% rise across the region, totaling 18,823.12 GWh. Greece had the largest demand increase (12.18%), followed by Bulgaria (11.19%) and Türkiye (6.91%). In contrast, Hungary experienced a decline in demand by -6.12%. The rise in demand was largely due to a cold wave that affected the region during the week.
Meanwhile, the output from variable renewable energy sources in SEE (excluding Italy) increased by 73.3%, reaching 2,419.02 GWh. Wind generation surged by 112.3%, totaling 1,945.09 GWh, driven by strong winds in all SEE countries except Hungary. Türkiye and Bulgaria saw the largest increases in wind output, rising by 156.2% and 98.7%, respectively. On the other hand, solar output decreased by -1.3%, totaling 473.93 GWh, with Türkiye and Croatia seeing the biggest declines at -35.3% and -1.2%.
Hydropower generation in the SEE region (excluding Italy) fell by -6.21%, reaching 1,372.56 GWh, as most countries saw a reduction in hydropower output. Türkiye, Greece, Bulgaria, and Hungary all reported lower hydropower production, with decreases of -14.65%, -13.98%, -8.29%, and -8.22%, respectively, due to dry, cold conditions. However, Croatia and Serbia saw increases in hydropower generation, with boosts of 24.20% and 19.74%, respectively. Thermal power generation in the region remained stable, with a 0.50% rise compared to the previous week, totaling 6,738.81 GWh. This included a 2.83% increase in coal-fired generation to 3,709.20 GWh and a 2.22% decline in gas-fired generation, which amounted to 3,029.61 GWh. Türkiye saw a decrease in both coal and gas-fired generation, by -1.35% and -4.34%, respectively. Greece’s lignite generation increased by 6.23%, while gas-fired generation fell by -1.71%. Bulgaria also saw an increase in coal generation by 20.35%, while gas generation dropped by -0.21%.
In terms of cross-border electricity trade, net imports in SEE decreased by 17.54%, totaling 1,205.88 GWh in Week 06. However, exports increased by 42.3%, reaching 396.27 GWh, while imports dropped by -8.0%, amounting to 1,602.15 GWh. Romania, Italy, and Hungary all saw decreases in their net imports. On the exporting side, Türkiye’s exports rose by 11.97%, while Greece increased its exports to neighboring markets, sending 213.31 GWh. Bulgaria also remained a net exporter, with 72.61 GWh exported, an increase of 6.48% compared to Week 05. Serbia, for the first time, became a net exporter, with 11.83 GWh exported during Week 06.
