Renewables and battery storage are reshaping wholesale electricity pricing across Southeast Europe, bringing some markets closer to the lower end of the European range. Recent trades in Bulgaria and Greece have been around €185–193/MWh. Prices in much of Central Europe have been approximately €225–270/MWh, while Spain and Portugal have traded near €178–184/MWh.
Price levels across Europe’s power markets
Electricity prices in Bulgaria and Greece have recently traded at around €185–193/MWh. This is below levels of approximately €225–270/MWh recorded across much of Central Europe. Balkan markets have remained slightly above Spain and Portugal, where prices were around €178–184/MWh. The Nordic countries continued to record some of the lowest electricity prices in Europe.
Greece and Bulgaria lead shifts tied to renewables and storage
The trend is particularly visible in Greece and Bulgaria, where renewable capacity has expanded rapidly. Greece has increased its wind and solar generation, while Bulgaria has combined strong solar growth with one of Southeast Europe’s fastest-expanding battery storage portfolios. The changes align with a regional move toward lower wholesale price levels compared with parts of Central Europe.
How batteries affect intraday price patterns
Battery storage is becoming increasingly important as higher volumes of low-cost solar generation increase intraday price fluctuations. Batteries can store surplus electricity during periods of strong solar output, which helps reduce curtailment. They can then release power during evening demand peaks, when gas-fired generation and imports can push prices higher.
Limits on regional convergence from grid and market structure
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 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 no longer uniformly among Europe’s most expensive electricity regions. Sustaining the improvement depends on adding new renewable capacity alongside faster development of grids, storage infrastructure, and cross-border electricity trading.