During Week 48 of 2025, electricity prices across Southeast Europe (SEE) increased moderately compared to Week 47, driven primarily by higher regional demand, despite cheaper TTF gas and rising wind output. Except for Türkiye, all SEE markets recorded weekly average prices above €100/MWh, bringing the regional average to around €118/MWh. Türkiye (+22.9%) and Hungary (+20.93%) saw the largest week-on-week price increases, followed by Greece (+15.94%) and Croatia (+14.89%). Bulgaria, Serbia, and Italy posted more moderate gains.
In Central Europe, weekly electricity prices rose, averaging around €110/MWh, with Slovakia at €144.39/MWh (+22.07%) and the Czech Republic at €139.43/MWh. France recorded the lowest price at €79.77/MWh (-8.49%). Across Europe, the weekly average wholesale price stood at €120.16/MWh, ranging from €71.58/MWh in Spain to €154.61/MWh in Poland.
Electricity demand in SEE increased by 2.65% week-on-week, reaching 17,267.57 GWh, driven by falling temperatures and higher heating needs. Italy and Serbia saw the strongest demand growth, +6.63% and +4.45% respectively, while Croatia, Bulgaria, and Serbia reported growth of 10.75%, 7.78%, and 6.43%.
Variable renewable generation fell by 12%, totaling 2,780.89 GWh, mainly due to lower wind output. Türkiye and Greece experienced the steepest declines (-34.9% and -28%), while Croatia and Romania increased wind output by 51.6% and 41.6%. Solar generation edged slightly lower (-1.3%) at 686.20 GWh.
Hydropower generation rose by 18.38%, reaching 2,067.67 GWh, with Croatia up 632.8% and Greece +157.51%, while Serbia, Bulgaria, and Hungary declined.
Thermal generation increased by 10.96%, reaching 9,030.79 GWh. Gas-fired generation surged +19.5% to 5,376.05 GWh, while coal/lignite rose slightly +0.39% to 3,654.74 GWh. Country-level trends varied: Türkiye’s gas generation jumped +57.42%, while Bulgaria saw minor losses in gas (-0.67%) and an increase in coal (+3.21%). Greece’s coal-fired output dropped -57.97%, with gas generation up +14.57%.
Cross-border electricity flows in SEE decreased, with net imports down -9.63% to 1,151.69 GWh. Total imports fell -14.8%, exports dropped -36.5%. Bulgaria (+29.09%) and Serbia (+14.30%) increased imports, while Türkiye and Greece maintained exports, with Greece down -45.69% and Türkiye up +10.95%. Romania entered the export market with net exports of 85.22 GWh.
