Cross-border electricity flows tightened across southeast Europe in Week 27, with regional net imports rising sharply as Hungary, Romania and Serbia increased their dependence on imported power.
Total SEE net electricity imports rose 28.2% week on week, increasing from 972 GWh to 1.25 TWh. The rise in imports confirms that several high-price markets needed additional external supply during a week of stronger demand and weaker renewable output.
Hungary recorded the largest import increase, with net imports rising 157.9% to 202 GWh. Romania followed with a 44.8% increase to 194 GWh, while Serbia’s net imports rose from 7 GWh to 90 GWh.
These three markets were also among the region’s key price-pressure points. Romania averaged EUR 164.31/MWh, Hungary EUR 162.04/MWh and Serbia EUR 139.93/MWh in Week 27. Rising imports into high-price markets can support spreads, particularly when available exporter capacity weakens.
Exporter support narrowed during the week. Greece, Bulgaria and Türkiye remained net exporters, but their export balances declined. Greece’s net export balance fell from 254 GWh to 115 GWh, a decrease of 54.7%, while Bulgaria and Türkiye also saw export reductions.
The flow pattern has clear trading implications. If Hungary, Romania and Serbia continue to draw more power while exporter balances narrow, regional price premiums can remain supported. If exporter output improves, or if demand falls, import pressure could ease and spreads may compress.
Flow monitoring should therefore sit alongside price and generation analysis. Traders should track not only absolute imports, but also the direction of flows, exporter availability and whether imports are rising into the evening peak.
Market view: cross-border flows confirm SEE tightness. Hungary, Romania and Serbia are the main import-pressure markets, while Greece, Bulgaria and Türkiye are the key exporter balances to monitor.
