Scheduled electricity exchanges between the Western Balkans Six and neighbouring EU markets fell 17.8% in January–September 2026, while regional day-ahead trading volumes rose 26.7% year on year in the third quarter. The Energy Community Secretariat’s assessment links the diverging trends to a market in which CBAM costs and conditions increasingly shape cross-border trade.
Montenegro’s BELEN day-ahead average rose 8.2% to €295.37/MWh for 2–8 November 2026, moving above Serbia as regional demand increased and solar and hydro output fell. Regional imports also rose, while price gaps narrowed between several neighbouring markets.
Refineries in Croatia, Romania, Bulgaria and Serbia are gaining strategic importance as diesel supplies tighten and long-distance imports become scarce, costly or unreliable. Local production can shorten supply chains and reduce exposure to disrupted seaborne trade, while refinery operations and crude deliveries remain key to availability.
BESS Sibenik, a 60 MW / 120 MWh standalone battery in Croatia, has been commissioned, with HOPS contracting its full capacity for aFRR services since September. The project cost approximately 60 million euros and is designed to earn market-based revenue from storage and ancillary services.
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BHP has issued termination notices for its Central Timok and Borsko exploration options in eastern Serbia, returning eight licences to Mundoro Capital when the notices take effect. The miner retains separate Trstenik and South Timok agreements, while Mundoro seeks partners to fund drilling on the returned licences.
Centerra Gold has agreed to buy 12.374 million newly issued Mundoro Capital shares for approximately C$4.08 million (€2.60 million), in a proposed placement that would give it a 9.9% stake. The funding would support Mundoro’s exploration and working capital as it seeks partners for projects in Serbia, but the deal has not closed.
Northstone Resources secured commitments for a share placement worth about EUR1.45 million to fund exploration at its Tlamino gold-silver and Timok East copper-gold projects in Serbia. The financing will support drilling and technical studies, not mine construction.
European Energy is evaluating a renewable-energy complex in Bulgaria’s Dobrich region, centred on a wind project of up to 1 GW. The concept also includes solar generation, battery storage and infrastructure for industrial users.
Croatian oil-pipeline operator JANAF halted crude transport on part of the Sisak-Slavonski Brod route after pipeline equipment was damaged near Prvca. The spill is estimated at 500 cubic metres.