Southeast European power markets moved into the final part of September with lower electricity demand and sharply reduced gas-fired generation. The region remained exposed to changes in gas supply and import costs ahead of winter. A weekly assessment also pointed to factors influencing the wider European gas market.
Across the markets covered, gas-fired power output fell 13.60% in the week to 20 September. The decline reduced the immediate volume of gas required for electricity generation. The report also cited Norwegian maintenance and LNG availability as influences on European gas conditions.
Country price and power flow differences
The exposure varied by country during the same period. Italy stayed the region’s highest-priced electricity market at €215.82/MWh while cutting gas-fired output. Greece increased net power exports as both its gas generation and demand fell.
Hungary recorded a higher power price despite a broad decline in regional electricity consumption. The week’s country-level outcomes therefore did not move in a uniform direction across Southeast Europe. Changes in generation mix and system conditions were reflected alongside the gas-related developments.
Drivers beyond gas-to-power linkage
The week’s market moves were not characterized as a single gas-to-power price relationship. Renewable production, hydro output, thermal availability and cross-border capacity all changed during the period. Gas becomes more consequential when those other sources cannot meet demand at a lower cost.
For autumn, the key question is how quickly gas-fired plants can be called back as demand increases. Week 38 showed some relief in generation volumes. It also indicated that lower demand does not necessarily translate into lower prices across every Southeast European market.