Southeast European wholesale power prices rose across all markets in the week to November 1, as stronger demand and lower renewable generation in several countries increased reliance on conventional power plants. The simple average across seven quoted markets, excluding Turkey, climbed 9.97% to €275.75/MWh, according to the Institute of Energy for South-East Europe (IENE).
Romania had the highest average price, at €287.26/MWh, followed by Serbia at €286.55/MWh, Hungary at €284.63/MWh and Bulgaria at €284.10/MWh. Prices in those four markets were within a range of just €3.16/MWh. Greece was the cheapest market at €255.04/MWh, while Croatia recorded the largest weekly rise, with prices up 14.30% to €270.92/MWh. The spread between the highest and lowest regional prices narrowed to €32.22/MWh from €39.36/MWh the previous week.
Supply and demand across the region
The balance between electricity supply and demand points to greater market tightness across the region. Excluding Turkey, demand rose by approximately 2.24%, while variable wind and solar generation fell by around 1.1%. Hydropower output declined by approximately 4.4%, while thermal generation increased by about 6.5%. Electricity consumption rose particularly strongly in Bulgaria and Serbia, and higher gas prices added pressure in markets reliant on flexible gas-fired generation.
The figures point to tightening electricity supply and demand across Southeast Europe, rather than a shortage confined to one country. Regional averages do not, however, quantify transmission congestion, balancing costs or the marginal fuel setting hourly market-clearing prices. For power traders and industrial consumers, the more significant signal is the combination of elevated wholesale prices, closely correlated national markets and greater exposure to generation and electricity import availability as the region approaches the winter season.