In Week 09 of 2025, electricity prices in Southeast Europe (SEE) generally trended lower. The decline in solar and wind energy production contributed to price increases in certain markets, while electricity demand showed a varied pattern across the region. However, the decrease in weekly gas and CO2 emission allowance prices helped mitigate price hikes in Southeast European electricity markets. All SEE markets saw a drop in electricity prices, except Greece and Turkey, which saw modest increases.
The week began with rising prices but fell from midweek onward. Specifically, Italy and Serbia saw the largest percentage drops in electricity prices, with reductions of 10.57% and 5.19%, respectively. Hungary and Croatia also experienced declines, with drops of 3.18% and 1.65%. Bulgaria and Romania recorded minor declines of 0.89% and 0.97%, respectively. Greece and Turkey were the only countries to report higher electricity prices, up 1.58% and 4.21%, respectively.
During the last week of February 2025, the weekly average spot electricity prices in Central Europe mainly decreased, although some countries saw price increases, creating a mixed market trend with prices still above €100/MWh. Central European markets posted prices ranging between €101–139/MWh. Slovenia had the highest electricity prices in the region at €138.85/MWh, 1.95% lower than the previous week, followed by Slovakia at €138.58/MWh. France had the lowest prices in the region at €101.12/MWh, 0.91% higher than the previous week.
In Week 09, European weekly averages were around €131/MWh. Prices ranged from €91.68/MWh in the MIBEL market to €160.77/MWh in the Greek market. MIBEL market prices surged to €91.68/MWh for the Portuguese and Spanish markets, up 4.57%. Due to a decrease in the final four sessions of the third week of February, most electricity market prices remained below €100/MWh.
In Southern Europe, all SEE countries, except Turkey, registered prices above €130/MWh. Prices ranged between €66-161/MWh, with Turkey having the lowest weekly average price at €66.43/MWh, followed by Italy at €132.70/MWh. The Greek market had the highest average price during Week 09, at €160.77/MWh, 1.58% higher than the previous week. Hungary ranked as the second most expensive market in SEE at €160.55/MWh. Daily prices in the week of February 24 saw the highest prices on Monday, February 24, and Tuesday, February 25, 2025.
In Week 09 of 2025, electricity demand in SEE countries increased, with gains in most markets. Five out of eight SEE markets saw higher electricity demand due to cooler conditions, leading to higher electricity use for heating. Total electricity demand in SEE rose by 3.27% compared to Week 08 of 2025, reaching 18,863.29 GWh. Bulgaria recorded the largest increase in demand at 10.78%, followed by Greece and Italy with increases of 9.81% and 5.16%, respectively. Turkey and Croatia experienced more modest increases of 3.33% and 1.81%. On the other hand, Hungary, Romania, and Serbia saw reduced electricity demand, down 7.92%, 5.73%, and 1.65%, respectively.
The output from variable renewable sources in SEE countries fell sharply during Week 09 of 2025, dropping by 30.0% to 1,385.78 GWh, due to weakened wind speeds across most countries. Wind generation decreased by 59.0%, totaling 594.76 GWh. Specifically, Turkey, Greece, Bulgaria, and Romania saw week-to-week decreases in wind output by 71.1%, 68.2%, 59.75%, and 13.8%, respectively. Solar output also declined by 5.2%, totaling 503.30 GWh, with Romania and Hungary seeing the most significant declines at 47.4% and 29.9%, respectively.
Meanwhile, hydropower production in SEE increased by 4.36%, totaling 1,597.45 GWh, mainly due to Turkey’s contribution, which added 133.28 GWh to the total hydropower output. Turkey and Romania saw increases in hydropower production of 13.54% and 1.94%, respectively, while Bulgaria, Croatia, and Greece experienced reductions of 41.51%, 19.12%, and 11.21%, respectively.
Thermal power generation in SEE increased by 1.89% compared to the previous week, reaching 15,148.29 GWh. This was due to a 10.64% increase in gas-fired generation, which totaled 3,458.58 GWh, although coal-fired generation decreased by 5.34% to 3,589.76 GWh. Notably, Turkey experienced a 2.00% decrease in coal-fired generation, while its gas-fired generation increased by 20.76%. Greece saw a surge in lignite power generation by 160%, while gas-fired generation fell by 3.75%. Bulgaria recorded a 10.97% drop in coal electricity production, with gas electricity generation rising by 2.75%.
Regarding cross-border electricity trade, net electricity imports in SEE dropped by 14.78% compared to Week 08 of 2025, amounting to 1,342.49 GWh. Electricity exports from the region fell by 47.5%, totaling 99.91 GWh, while imports decreased by 18.3%, reaching 1,442.41 GWh. Croatia, Italy, and Romania saw reductions in net imports of 37.23%, 22.53%, and 24.52%, respectively. On the export side, Turkey increased its net exports by 0.59%, while Greece switched to a net importing position. Bulgaria remained an exporter, although its exports fell by 71.56%.
