North Macedonia faces critically low hydropower reserves amid prolonged drought Read More »

North Macedonia faces critically low hydropower reserves amid prolonged drought

Prolonged drought and scarce rainfall have severely reduced water levels in North Macedonia’s reservoirs and hydropower plants. According to data from state-owned power utility ESM, the total stored energy currently amounts to just 124 GWh—only 21% of the country’s total reservoir capacity. At this time of year, hydropower facilities typically supply around a quarter of […]

North Macedonia: OKTA reports strong profit growth despite lower revenues in 2025 Read More »

North Macedonia: OKTA reports strong profit growth despite lower revenues in 2025

North Macedonian oil refinery OKTA, owned by Greece’s Hellenic Petroleum, reported a net profit of 7.3 million euros in the first nine months of 2025, up from 2.1 million euros in the same period last year. The company’s sales revenues reached 456 million euros during the period, representing an 18% decrease compared to 2024, while

Hungary boosts domestic oil production to record levels in bid for greater energy security Read More »

Hungary boosts domestic oil production to record levels in bid for greater energy security

Hungary continues to rely heavily on imported oil, but the country is stepping up efforts to strengthen domestic production as part of a long-term plan to improve energy security. According to a study by the Oeconomus Economic Research Foundation, Hungary’s oil output reached a two-decade high of one million tons in 2024 and is expected

Bulgaria: President vetoes amendment requiring security agency approval for Lukoil asset sales Read More »

Bulgaria: President vetoes amendment requiring security agency approval for Lukoil asset sales

Bulgarian President Rumen Radev has vetoed a recently adopted amendment that would have required the State Agency for National Security (SANS) to approve any sale of Lukoil’s Bulgarian assets. The amendment, passed by Parliament on October 24, stipulated that the Council of Ministers could authorize such sales only after receiving a positive assessment from SANS.

Europe: Brent oil and gas prices stable in late October as OPEC+ confirms production increase Read More »

Europe: Brent oil and gas prices stable in late October as OPEC+ confirms production increase

Brent crude oil futures for the Front Month on the ICE exchange reached their weekly high of $65.62 per barrel on Monday, October 27, a level 0.5% lower than the previous week’s closing price. After falling by 1.9% on Tuesday, October 28, the futures hit their weekly low at $64.40 per barrel. Over the following

Europe: Electricity prices rose in late October amid lower wind and solar output, expected to ease in early November Read More »

Europe: Electricity prices rose in late October amid lower wind and solar output, expected to ease in early November

In the last week of October, average electricity prices rose across all major European markets compared to the previous week. The smallest increases were recorded in the United Kingdom’s N2EX market and Italy’s IPEX market, where prices rose by 0.7% and 0.9%, respectively. The largest percentage increases occurred in the Nordic region’s Nord Pool market

Europe: Electricity demand declined in late October, expected to rise in early November Read More »

Europe: Electricity demand declined in late October, expected to rise in early November

During the week of October 27, electricity demand declined across most major European markets compared to the previous week. Italy recorded the largest decrease, with demand falling by 2.8%, followed by Portugal and Germany, where demand dropped by 1.8% and 1.7%, respectively. Spain registered the smallest decline at 0.6%. These reductions reversed the upward trend

Europe: Solar and wind energy production declined in late October, recovery expected in early November Read More »

Europe: Solar and wind energy production declined in late October, recovery expected in early November

During the week of October 27, solar photovoltaic energy production declined across most major European electricity markets compared to the previous week. France recorded the largest drop at 15%, marking the third consecutive week of decline. Portugal and Spain followed with decreases of 8.0% and 7.2%, respectively—representing the fourth consecutive weekly drop for Portugal and

Understanding how the European electricity market works: Liberalization, pricing and integration Read More »

Understanding how the European electricity market works: Liberalization, pricing and integration

An electricity market is an organized system where various participants—such as power generators, retailers, and large consumers—buy and sell electrical energy. Unlike most other goods, electricity cannot be stored easily in large quantities, meaning it must be generated and consumed simultaneously. This characteristic makes managing the electricity market more complex and gives it unique features.

Romania: Hidroelectrica exceeds one million customers, driving renewable energy transformation Read More »

Romania: Hidroelectrica exceeds one million customers, driving renewable energy transformation

Electricity producer Hidroelectrica has exceeded one million household and business customers on Romania’s retail electricity market, marking a significant milestone in the company’s growth and diversification. Since entering the retail supply sector in 2020, Hidroelectrica has rapidly established itself as one of the country’s most trusted and influential energy providers. The company’s success reflects the

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