Southeast European power markets rebounded on Tuesday, with day-ahead prices moving higher across nearly all trading hubs and regional benchmarks returning above €100/MWh. The move was linked to stronger weekday electricity demand, increased thermal generation and renewed import requirements.
Day-ahead price performance across SEE trading hubs
Hungary’s HUPX market led the region, settling at €127.73/MWh, up €11.5/MWh day-on-day. Romania’s OPCOM rose to €124.02/MWh, while Croatia’s CROPEX increased to €121.76/MWh. Slovenia’s BSP closed at €121.10/MWh, and Serbia’s SEEPEX jumped by €30/MWh to €118.15/MWh.
Bulgaria’s IBEX reached €117.40/MWh, with Greece’s HENEX ending at €114.46/MWh. Albania remained the lowest-priced market at €78.86/MWh, despite a substantial daily increase.
Demand and generation changes behind the price rise
Regional electricity consumption increased to 29.2 GW, up more than 1.1 GW versus Monday levels, reflecting a return of industrial and commercial demand after the weekend period. Total generation rose by approximately 5.6 GW to 28.6 GW. The expansion was supported by gains across nearly every major generation technology.
Solar output recovered to 6.6 GW, while hydro generation increased to 6.5 GW. Gas-fired production recorded one of the largest increases, rising above 4 GW, and wind generation more than doubled compared with the previous day. Nuclear generation stayed stable at around 4.1 GW.
Cross-border flows and congestion indicators
The price move coincided with a continued premium for Southeast European markets relative to Western Europe, according to market participants. The Hungarian-German day-ahead spread widened to almost €31/MWh, indicating ongoing congestion and scarcity across Central Europe.
Cross-border flows also increased, with net imports into the wider SEE region rising to around 767 MW. Imports through the core Central European corridors exceeded 1.8 GW. Strong inflows from Austria and Slovakia supported Hungarian and regional balances, while Italy remained an export destination linked to its premium pricing environment.
Forward prices and fuel-cost signals
Forward markets moved higher as participants priced tighter summer conditions. Hungarian week-ahead contracts traded around €114.5/MWh, while July products climbed to €122.5/MWh. The rise in prompt contracts reflected expectations of stronger cooling demand, higher evening ramp requirements and continued reliance on thermal generation during periods of weaker renewable output.
Austrian CEGH gas contracts strengthened above €51/MWh, while EU carbon allowances remained close to €77/t. Coal futures also edged higher, supporting the price floor for thermal generation assets across the region.
Serbia market developments and regional investment announcements
In Serbia, authorities approved the environmental assessment framework for the planned Bistrica pumped-storage hydropower project. The project is expected to become one of Serbia’s key flexibility assets as renewable penetration increases.
Industry data also showed that more than 60 renewable energy facilities exited Serbia’s historic feed-in tariff scheme since 2022, increasing exposure of generators to wholesale market dynamics.
The wider region saw multiple investment updates tied to the energy transition. The European Bank for Reconstruction and Development approved a financing package of €175 million, supporting approximately 400 MW of new renewable projects by PPC across Greece, Bulgaria and Romania.
Batteries and new gas capacity in SEE plans
Batteries and new gas capacity in SEE plans
PPC Slovenia launched a .
