Electricity prices across southeastern Europe increased sharply for Monday, October 12, as demand recovered after the weekend and forecast wind generation fell. The move lifted Serbian prices above €230/MWh and pushed Hungary, Romania and Bulgaria towards €235/MWh. Procurement costs for suppliers and industrial buyers rose alongside the spot price increase.
Forward pricing also pointed to expectations of expensive electricity beyond Monday. Hungary’s week 42 contract settled at €244.50/MWh, with week 43 close behind at €244/MWh. The regional price changes were reflected in day-ahead averages across multiple exchanges.
Day-ahead prices in Serbia, Montenegro, Bulgaria, Romania and Hungary
Serbia’s SEEPEX day-ahead average climbed by €45.20/MWh to €230.76/MWh, leaving it €4.12/MWh below Hungary. Montenegro’s BELEN rose by €43.10/MWh to €208.46/MWh, maintaining a €26.42/MWh discount versus the Hungarian benchmark. The different levels meant Serbia traded near the region’s higher-priced markets while Montenegro remained lower than most neighbouring exchanges.
Bulgaria’s IBEX recorded the highest regional average at €235.50/MWh, up €60.30/MWh. Romania’s OPCOM followed at €235.29/MWh, an increase of €59.20/MWh, while Hungary’s HUPX rose by €48.80/MWh to €234.88/MWh. The three markets were separated by less than €1/MWh, so daily-average differences alone left limited scope for margin calculations without considering hourly spreads and transmission availability.
Price moves across other regional markets
Croatia reached €226.98/MWh and Slovenia €224.94/MWh, with both rising by €53.30/MWh. Greece gained €58.90/MWh to reach €218.04/MWh. Albania increased to €222.35/MWh, while North Macedonia remained the lowest in the regional comparison at €198.47/MWh, up €7.60/MWh.
Demand recovery and lower wind output in the supply outlook
The supply-demand shift was driven by higher consumption alongside reduced wind output. Forecast average demand across Hungary and SEE coverage rose by 3,605 MW to 30,588 MW, about 13.4% above Sunday. Forecast wind generation fell by 2,358 MW to 1,397 MW, a decline of nearly 63%.
The forecast also included solar output rising by 1,219 MW to 4,379 MW. Combined wind and solar generation nevertheless fell by about 1,139 MW. With demand higher than Sunday, the forecasts implied roughly 4,744 MW more supply would need to come from other generation or imports.
Nets imports and Germany comparison for cross-border pricing context
Regional net imports increased only by 300 MW to reach 3,719 MW. Imports through monitored Austria–Slovakia routes into Hungary and Slovenia rose by 395 MW to 3,140 MW. The figures indicated that additional imports alone were insufficient to offset the change in demand and renewable availability.
The price increase extended beyond southeastern Europe as well. Germany’s day-ahead average jumped by