From power flows to industrial costs: How EU electricity volatility reshapes competitiveness in southeast Europe

For decades, electricity was treated by industry as a predictable input. Prices fluctuated within narrow bands, supply security was largely taken for granted, and energy strategy focused on efficiency rather than exposure. In southeast Europe, this assumption underpinned the region’s industrial model. Competitive labour, proximity to EU markets and relatively stable power costs supported metals, […]

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Flexibility without reward: Why southeast Europe balances Europe’s power system but captures none of the value

In the emerging architecture of Europe’s electricity system, flexibility has become the most valuable attribute a power asset can possess. The ability to ramp output quickly, absorb surplus generation, stabilise frequency, or respond to sudden imbalances now matters more than raw installed capacity. Yet while flexibility has become scarce, it has not become fairly priced.

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Europe’s variable power system: How wind, solar and nuclear reshaped electricity flows from the EU core to southeast Europe

For most of the past half-century, Europe’s electricity system could be understood through a relatively simple lens. Power was generated close to where it was consumed, national systems were planned around predictable baseload plants, and cross-border flows played a supporting role rather than defining market outcomes. Electricity prices reflected domestic generation costs, demand patterns were

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EU electricity under CBAM: Why Southeast Europe is structurally exposed

The inclusion of electricity in the European Union’s Carbon Border Adjustment Mechanism marks a quiet but profound shift in how power systems at Europe’s periphery are judged, priced, and ultimately integrated. While much of the public CBAM debate has focused on steel, cement, aluminium, and fertilisers, electricity is the only CBAM-covered “product” that is not

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Romania: Greenvolt to sell 253 MW Ialomița wind farm to Engie

A wind project in southeastern Romania is set to change ownership as Portuguese renewable energy group Greenvolt moves forward with another project divestment. The company has agreed to transfer a 253.1 MW wind farm under development to French energy giant Engie, continuing its strategy of selling mature assets while retaining a development focus. The project,

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Romania: OMV Petrom commissions €45m sulfur recovery unit at Petrobrazi Refinery

OMV Petrom has commissioned a major new processing facility at its Petrobrazi refinery, strengthening both environmental performance and operational flexibility at one of Romania’s most important fuel production sites. The newly completed sulfur recovery unit, representing an investment of €45 million, is now fully operational. The installation is designed to process acid gas generated during

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Romania plans €30bn grid expansion to integrate electricity market with Western Europe

Romania is preparing for a major upgrade of its electricity interconnections under a large-scale EU-backed investment program aimed at integrating its power system more closely with western Europe. By 2035, up to €30 billion is expected to be allocated to electricity network investments linking Romania, Hungary and Austria through a coordinated regional framework. Energy Minister

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Hungary signs first long-term US LNG deal to boost energy security and diversification

Hungary has taken a significant step toward diversifying its energy imports by signing a long-term liquefied natural gas (LNG) supply agreement with a US supplier. State-owned utility MVM has concluded a five-year contract with Chevron, marking the first time American LNG will enter Hungary’s energy portfolio on a regular basis. Under the agreement, 400 million

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Bulgaria: Westinghouse expands industry role in Kozloduy AP1000 nuclear project

Westinghouse has further reinforced Bulgaria’s domestic industrial base supporting the country’s new nuclear build by signing an additional set of cooperation agreements with local companies. The latest memoranda were concluded during the company’s third Supplier Symposium in Sofia in November 2025, expanding Bulgarian participation in the planned nuclear power expansion at Kozloduy. With the signing

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Europe: Gas prices near €27/MWh amid record LNG imports and geopolitical shifts

During mid-December 2025, European natural gas prices continued their downward trajectory, approaching around €27/MWh, near levels not seen since early 2024. Despite minor daily upticks, this reflects a 10.10% decline over the past month, a 33.46% drop compared to December 2024, and a year-to-date fall of roughly 45%. Remarkably, prices have plummeted more than 90%

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