Wholesale electricity prices in Southeast Europe are moving closer to the lower end of the European market as the rapid expansion of renewable generation and battery storage begins to reshape regional power supply.
Electricity prices in Bulgaria and Greece have recently traded at around €185–193/MWh, below levels of approximately €225–270/MWh recorded across much of Central Europe. Balkan markets remained slightly above Spain and Portugal, where prices were around €178–184/MWh, while the Nordic countries continued to record some of the lowest electricity prices in Europe.
The trend is particularly visible in Greece and Bulgaria, where renewable capacity has expanded rapidly. Greece has significantly increased its wind and solar generation, while Bulgaria is combining strong solar growth with one of Southeast Europe’s fastest-expanding battery storage portfolios.
Battery storage is becoming increasingly important as higher volumes of low-cost solar generation create larger intraday price fluctuations. Batteries can store surplus electricity during periods of strong solar output, helping to reduce curtailment, and then release power during evening demand peaks, when gas-fired generation and imports can push prices higher.
Despite these developments, cross-border transmission constraints and fragmented national electricity markets continue to limit regional price convergence. Significant price differences can remain between neighbouring power exchanges even when lower-cost electricity is available elsewhere in Southeast Europe.
Further improvements will depend on continued investment in battery storage in Greece, additional wind capacity in Bulgaria and stronger renewable and storage development across the Western Balkans. Greater market coupling and investment in electricity grids would also allow lower-cost generation to flow more efficiently across national borders.
Southeast Europe is therefore no longer uniformly among Europe’s most expensive electricity regions. However, sustaining this improvement will depend not only on adding new renewable capacity, but also on ensuring that grids, storage infrastructure and cross-border electricity trading develop quickly enough to support the region’s changing power market.
