Croatia: Končar secures €95 million contract to modernize HPP Varaždin

Croatia’s hydropower sector is set for a significant modernization following the signing of a contract to overhaul generating units at HPP Varaždin. Engineering group Končar has secured the project, valued at €95.2 million excluding VAT, under an agreement with HEP Proizvodnja, the generation subsidiary of the national power utility. The contract covers the complete reconstruction […]

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Bosnia and Herzegovina: HPP Višegrad increases annual output in 2025 despite December dip

A subsidiary of state-owned power utility ERS “Hidroelektrane na Drini”, the company operating the Višegrad hydropower plant, announced that the facility generated 88.34 GWh of electricity in December 2025, marking a month-on-month decline of 8.8% compared to November, when output reached 96.83 GWh. Despite the decrease, production remained well above the 73.18 GWh recorded in

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Region: US extends sanctions deadline to allow Lukoil overseas asset sales

The United States has adjusted its sanctions timetable, granting Russian oil producer Lukoil additional time to complete the sale of its overseas assets. The move was announced by the U.S. Department of the Treasury as part of its broader sanctions enforcement strategy aimed at reshaping Russia’s access to global capital. Through its enforcement arm, the

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Europe: TTF gas prices stable in Week 02 of 2026 amid winter demand and LNG market dynamics

In Week 02 of 2026, TTF gas prices in Europe exhibited modest intraday volatility, with the highest settlement occurring on January 7 and generally stabilizing around €28/MWh. February 2026 futures on the ICE market fluctuated between −3.7% and +2.5%, resulting in a weekly average of €28.06/MWh, slightly lower than the previous week (−0.7%). Prices opened

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SEE sees sharp electricity price and demand surge in Week 02 of 2026

Electricity prices across the Southeast Europe (SEE) region surged sharply in Week 02 of 2026 compared with Week 01. Most SEE markets saw substantial weekly increases, with prices climbing over 40% in Bulgaria, Romania, Hungary, and Serbia. In these countries, average electricity prices converged around €130–136/MWh, reflecting strong market coupling and limited availability of lower-cost

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Slovenia hits record electricity demand amid extreme cold and low renewable output

Slovenia’s electricity system experienced an unprecedented demand peak during the morning hours of Thursday, 8 January, driven by a combination of severe winter weather and limited renewable generation. Heavy snowfall in the days leading up to the spike covered much of the country, including solar installations, sharply reducing their output, while temperatures plunged well below

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Slovenia: NPP Krško exceeds December 2025 production targets with full capacity operation

In December 2025, the jointly owned Slovenian–Croatian Krško nuclear power plant generated 522,868 MWh of net electricity, exceeding the monthly production plan of 515,000 MWh by 1.53%. A year earlier, in December 2024, the plant produced 521,917 MWh, also outperforming expectations by 1.74% compared with the planned 513,000 MWh for that month. Throughout the period,

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Serbia: NIS moves into utility-scale solar with 3.1 MW plant and battery storage in Smederevo

Serbian oil company NIS is stepping into utility-scale renewable power generation after receiving local approval for a new solar project in eastern Serbia. The City of Smederevo has formally acknowledged the company’s application to build a solar power plant with integrated battery storage, clearing the way for construction to begin in mid-January. The project received

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Montenegro scraps first solar auction and prepares new renewables tender for 2026

Montenegro’s Ministry of Energy has annulled its first auction for solar power market premiums after all submitted bids failed to meet legal and procedural requirements. The tender, launched last year, was cancelled because applications contained outdated documentation, were not aligned with spatial planning rules or did not satisfy grid connection eligibility criteria. The authorities now

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