Uncategorised Archives - Balancing Energy

CEE–SEE cross-border capacity auction reversals and what traders should readfrom them

Recent reversals in cross-border capacity auction prices between Central and Southeast Europe have drawn close attention from market participants. Annual and monthly auction outcomes on corridors linking Hungary, Romania, Bulgaria, Greece, Croatia, and Serbia are no longer moving in predictable directions. For SEE traders, these reversals are not anomalies; they are early warnings of deeper […]

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Albania: SOCAR to begin supplying natural gas to Korca

The State Oil Company of Azerbaijan (SOCAR) is set to launch natural gas supply operations in the Albanian city of Korca, marking the first phase of a larger initiative aimed at establishing a comprehensive gas distribution network throughout the city. The project will prioritize support for local businesses and enterprises. Albanian Prime Minister Edi Rama

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Hungary inks deal with Belarus to help build nuclear reactor

Hungarian Foreign Minister Peter Szijjarto said that the government signed an accord with Belarus to help build Hungary’s second nuclear plant. Nuclear power plant Paks 2 has been under construction by Russia’s Rosatom since 2014. The Russian company is building two reactors with a capacity of 1.200 MW each in central Hungary. -Of great importance

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Bulgaria: NPP Kozloduy to cut Russian fuel supplies

Kozloduy Nuclear Power Plant decided to terminate the contract with Russia for the supply of nuclear fuel, executive director Valentin Nikolov said. The contract was due to end in 2025. He added that Russian fuel already delivered will now serve as a reserve. He made the comments during a ceremony marking the loading of the

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Greece: Exploratory drilling in Eastern Mediterranean to start by 2026

The first exploratory drilling in the Eastern Mediterranean is projected to commence between late 2025 and early 2026, according to Greek Environment and Energy Minister Theodoros Skylakakis. He made this announcement during the “East Mediterranean Gas Forum” meeting held in Athens. Skylakakis emphasized the increasing significance of the Eastern Mediterranean region for European energy security

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Romania: Black Sea Oil & Gas launches new biogas business

Black Sea Oil & Gas SA (BSOG) and its shareholders, global investment firm Carlyle and the European Bank for Reconstruction and Development (EBRD) announce that it has launched BSOG Energy SRL, a new company focused on developing biogas production plants across Romania. Headquartered in Bucharest, Romania, BSOG Energy will develop biogas plants across Romania with

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Greece: Renewable energy production exceeded 8 TWh in the first four months

In the first four months of 2024, renewable energy sources surpassed fossil fuels in Greece’s electricity mix for the first time, reducing the sector’s emissions to a new low. Renewable energy sources plus large hydro accounted for 8.09 TWh of total production from January through April, while natural gas, lignite and oil contributed 498 GWh

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Europe: Confirmation of the go-live date for Intraday Auctions on June 13

Following extensive testing and go-live preparation for the upcoming Intraday Auctions (IDAs), Nominated Electricity Market Operators (NEMOs) and Transmission System Operators (TSOs) confirmed the IDA go-live date of June 13, 2024, for delivery on June 14, 2024. The first SIDC auction will take place on 13 June 2024 at 3 PM CET. Pricing the intraday

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Romania: TMK Hydroenergy commissioned a 1 MW floating solar power plant

TMK Hydroenergy Power, in partnership with Innovation Norway, developed the first floating photovoltaic energy system in Romania, on the lake of the Grebla hydropower plant, a landmark in renewable energy and produces over 1 million kWh of green energy annually. The initiative represents a pioneering action and marks a significant step towards sustainability, through the simultaneous

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BiH: Electricity production decreased to 1.35 TWh in March

Gross electricity production in Bosnia and Herzegovina reached 1,351 GWh in March, compared to 1,654 GWh in the same month last year, according to the data published by the Agency for Statistics. In total gross electricity production, hydropower plants participated with the share of 44.8 %, thermal power plants with 50.6% and solar and wind

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