Southeast European day-ahead electricity prices eased for Wednesday delivery across most markets, narrowing the premium of Hungary to Germany. Serbia was an exception, with SEEPEX increasing to €197.97/MWh. Higher gas and carbon costs supported firmer forward power pricing.
On the Serbia-Montenegro segment, SEEPEX gained €1.50 to €197.97/MWh. Montenegro’s BELEN fell €34.60 to €197.41/MWh, the largest daily drop among the tracked markets. The move brought the two prices within €0.56/MWh.
That divergence narrowed Serbia’s discount to Hungary to €12.85/MWh. Serbia’s reported net import position averaged 840 MW, indicating continued reliance on external supply while its price stayed below those in Hungary, Romania and Croatia.
Hungary and Romania track closely as imports increase
Hungary’s HUPX decreased by €14 to €210.81/MWh, while Romania declined by the same amount to €208.70/MWh. The resulting spread of €2.11/MWh reflected close alignment between the two markets.
Hungary’s premium to Germany narrowed to €18.79/MWh, down from about €23.10/MWh a day earlier and €76.10/MWh on Monday. Imports through the Austria–Slovakia corridor into Hungary and Slovenia rose by around 529 MW to 1,954 MW.
Across the wider Hungary–SEE area, net imports increased by 216 MW to 2,325 MW. Forecast consumption rose by 49 MW to 29,669 MW, leaving imports covering nearly 8% of expected demand.
Solar output rises while regional price gaps persist
Renewable forecasts pointed to more solar generation, with average solar output expected to rise by 527 MW to 6,501 MW. Wind generation was forecast to fall by 243 MW to 1,064 MW. The combined change of about 284 MW coincided with higher imports and broadly stable demand.
Despite the softer day-ahead picture in many markets, price differences remained wide. North Macedonia recorded the lowest daily average at €162.35/MWh, followed closely by Greece at €162.46/MWh, both around €48/MWh below Hungary.
Bulgaria fell €8.80 to €198.60/MWh and recorded net exports averaging 1,503 MW. Romania remained a net importer at 1,411 MW, while Hungary imported 986 MW and Croatia imported 851 MW.
Further west, Slovenia declined €17.90 to €202.19/MWh and Croatia fell €16.70 to €204.32/MWh. Albania dropped €27.40 to €212.13/MWh but stayed slightly above Hungary, while Italy held the highest tracked price at €220.27/MWh.
Forward prices firm on gas and EU carbon allowance increases
The forward curve moved in the opposite direction to spot prices for Wednesday delivery. Hungarian power for week 42 rose by €1 to €202/MWh, while week 43 increased by €3 to €204.50/MWh.
November delivery climbed by €3.50 to €212.50/MWh as fuel and emissions costs strengthened the outlook for forward trading. Austrian CEGH gas rose to €77.86/MWh, November gas gained €2 to reach €77/MWh.
EU carbon allowances increased by €0.90 to €84.78/tonne, supporting firmer forward power pricing into November delivery.