electricity trading

North Macedonia: Day-ahead electricity trading rises in December 2025 as prices ease

In December 2025, electricity trading on North Macedonia’s day-ahead market reached a total volume of 118,102.7 MWh, marking a 19.9% increase compared to 98,508 MWh in December 2024. Trading activity also rose 8.2% month-on-month compared to November 2025. The average market-clearing price in December stood at €116.89/MWh, down 3.1% from the previous month, while the […]

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Algorithmic trading probabilities for SEE zones: Forecasting volatility, spread formation and structural patterns in the Balkan power markets

South-East Europe has become one of the most algorithmically interesting electricity markets in Europe. Not because it is stable, liquid or deeply coupled — but because it is not. The region generates repeating patterns of volatility born not from random noise but from structural constraints. For algorithmic traders, this makes SEE one of the rare

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A trader’s guide to interpreting SEE spreads operationally: The real mechanics behind price divergence

Understanding South-East European electricity spreads requires abandoning the classical frameworks used in Western Europe and adopting a system-behavioural perspective. SEE is not a price zone arrangement. It is a network of bottlenecks, delays, surpluses, deficits, hydro modulation, balancing scarcity, renewable surges, and political infrastructure inertia. Spreads are the language the grid uses to express stress.

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North Macedonia: Day-ahead power trading jumps 82% year-on-year in October 2025

In October 2025, electricity trading on North Macedonia’s day-ahead market reached 146,498 MWh, marking an 81.7% increase compared to the same month last year and a 43% rise from September. According to the market operator MEMO, the average market-clearing price stood at 125.67 euros/MWh, up 37.1% from the previous month. The daily average trading volume

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Croatia: CROPEX electricity trading surges 90% year-on-year in October 2025

In October 2025, a total of 1,449,339.1 MWh of electricity was traded on the Croatian power exchange CROPEX, representing a 32.9% increase compared to September and a 90.2% rise year-on-year. Of the total, 1,203,268.5 MWh was traded on the day-ahead market and 246,070.6 MWh on the intraday market. The average daily baseload price on the

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Serbia: SEEPEX day-ahead trading rises 11.9% in October, prices up sharply from September

A total of 511,894 MWh of electricity was traded on the day-ahead market of the Serbian energy exchange SEEPEX in October 2025, marking an 11.9 percent increase compared to the previous month and averaging 16,512.7 MWh per day. However, trading volume was 6 percent lower than in the same month last year. The average daily

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Hungary: HUDEX to cease all electricity and gas trading due to low market liquidity

HUDEX has announced that it will cease all electricity and natural gas trading after concluding that market liquidity remains insufficient to support sustainable long-term operations. Despite extensive efforts and detailed assessments conducted in recent years, trading volumes failed to reach the levels required to meet regulatory standards. As a result, the company’s board has approved

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Bulgaria: IBEX day-ahead market sees 3.9% drop in traded volume, prices surge by over 20% in September 2025

In September 2025, a total of 2,410,532.9 MWh of electricity was traded on the day-ahead market of the Independent Bulgarian Energy Exchange (IBEX), marking a 3.9% decrease compared to August. The average daily traded volume reached 80,351.1 MWh. However, compared to the same month in 2024, the traded volume was 1.7% higher. The average baseload

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North Macedonia: Day-ahead power trading up 37.7% year-on-year in August 2025

In August 2025, electricity trading on North Macedonia’s day-ahead market reached 126,292.1 MWh, marking a 37.7% increase compared to 91,721.7 MWh in the same month of 2024. However, the traded volume was 6.5% lower than in July 2025. According to market operator MEMO, the average market-clearing price in August was 81.23 euros/MWh, down 21.3% from

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Serbia: SEEPEX reports slight decline in day-ahead electricity trading for August 2025

A total of 478,334.3 MWh of electricity was traded on the Serbian energy exchange SEEPEX’s day-ahead market in August 2025, marking a 0.7% decrease compared to July. The average daily traded volume was 15,430.2 MWh. Compared to August 2024, the traded volume was 9.8% lower. The average daily base price on the day-ahead market in

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