Southeast European power markets moved into the final part of September with lower electricity demand and sharply reduced gas-fired generation. The region still remained exposed to changes in gas supply and import costs ahead of winter. A report covering the week also pointed to factors affecting the wider European gas market.
Across the markets covered, gas-fired power output fell 13.60% in the week to 20 September. The decline reduced the immediate volume of gas needed for electricity generation. The same report identified Norwegian maintenance and LNG availability as influences on the wider European gas market.
Country price and flow changes during the week
The exposure differed by country. Italy stayed as the region’s highest-priced electricity market at €215.82/MWh while reducing gas-fired output. Greece increased net power exports as its own gas generation and demand fell.
In Hungary, the power price rose despite a broad decline in regional electricity consumption. These country-specific moves occurred alongside changes in other generation and system conditions during the same period. The report noted that the week’s developments were not a single gas-to-power price relationship.
Drivers beyond gas-fired output
Renewable production, hydro output, thermal availability and cross-border capacity all changed during the week. Gas becomes more consequential when those other sources cannot meet demand at a lower cost. This interaction shaped how market outcomes evolved across Southeast Europe.
For autumn, the market question was how quickly gas-fired plants may be called back as demand rises. Week 38 offered some relief in generation volumes, but it also showed that lower demand does not guarantee lower prices in every Southeast European market.