SEE

SEE’s electricity market: Structure, competition, traders, strategies and the next decade of transformation

The South-East European electricity market has always stood apart from the mature, deeply liquid and algorithmically saturated markets of Western and Northern Europe. The Western Balkans region—extending through Serbia, Montenegro, Bosnia and Herzegovina, North Macedonia, Albania, and partially linked surrounding systems—remains a puzzle of semi-liberalised markets, legacy monopolies, variable regulatory maturity, rapid renewable expansion potential […]

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Cross-border power corridors shaping South-East Europe: Interconnections, congestions and the new gravitational pull of the EU electricity market

South-East Europe is moving through a period of structural change, driven by accelerating renewable deployment, constrained transmission corridors, and a new continental price geography that increasingly radiates outward from the European Union’s core. The region stretching from Hungary through Croatia, Serbia, Romania, Bulgaria and Greece, and continuing across the Adriatic through Montenegro toward Italy, forms

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Hydro–storage–renewables integration strategy for SEE

Designing an integration strategy for hydropower, storage and renewables in South-East Europe means accepting that no single technology can deliver both decarbonisation and stability. Wind and solar bring energy and cost advantages. Hydro brings dispatchable flexibility and system strength. Storage brings speed and granularity. The challenge is to orchestrate them into a coherent architecture that

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Traders’ hydro-volatility map for SEE

From a trader’s perspective, hydropower in South-East Europe is less about reservoirs and turbines and more about timing, asymmetry and correlation with wind and solar patterns. A hydro-volatility map of the region does not describe water levels; it describes how hydro behaviour amplifies or dampens spreads across borders and across time. The first dimension of

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Hydropower as baseload or balancing in a renewable-dominated SEE system: A structural analysis of hydro vs. wind and solar

Hydropower has always occupied a privileged position in South-East Europe’s electricity systems. Before solar and wind entered the mix, hydro served simultaneously as baseload, mid-merit and balancing capacity. It delivered firm energy during wet seasons, provided dispatchable flexibility for system operators and anchored frequency stability across weak and heavily fragmented Balkan grids. Yet as the

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SEE power trading: A pure traders’ view on spreads, volatility and balancing opportunities

South-East Europe is entering a period where the spread and balancing environment becomes more profitable—and more dangerous—than at any time in the region’s modern electricity history. The fundamental driver is structural mismatch: renewable ramping outpacing system flexibility, coal fleets losing baseload stability, hydropower losing predictability and balancing markets evolving more slowly than the volatility they

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South-East Europe’s renewable transition: Wind, solar baseload, balancing and the real hierarchy of flexibility

South-East Europe has entered the decisive phase of its energy transition, a moment when renewable expansion has become irreversible yet system adaptation remains incomplete. Across Serbia, Montenegro, Albania, Bosnia and Herzegovina, North Macedonia and Croatia, wind and solar are accelerating faster than the physical and institutional infrastructure required to support them. The result is a

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Cross-border capacities in SEE: Who has the advantage, how they use it and where structural geography creates winners

Cross-border capacity is the true currency of the South-East European electricity market. While power exchanges across the region are steadily developing, and while market coupling promises deeper integration and liquidity over time, the real competitive edge still rests with those players who understand the physical constraints of the network, who hold the strongest positions in

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SEE’s electricity market: Traders, cross-border power, structural dynamics and the emerging hierarchy of the next decade

South-East Europe remains one of the most complex, strategically contested and structurally unique electricity markets on the continent. The region is not fully liberalised, not fully integrated, and not yet governed by the deep liquidity and institutional discipline of Western European hubs. It is a system still influenced by political decisions, hydro variability, ageing coal

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