Renewables and battery storage are reshaping wholesale power pricing across Southeast Europe, bringing some markets closer to the lower end of the European range. Electricity prices in Bulgaria and Greece have traded around €185–193/MWh, compared with roughly €225–270/MWh across much of Central Europe. The shift is also reflected in price levels relative to Spain and Portugal (€178–184/MWh) and the Nordic region’s comparatively low prices.
Price levels across European regions
Electricity prices in Bulgaria and Greece have recently traded at around €185–193/MWh. This is below levels of approximately €225–270/MWh recorded across much of Central Europe. Balkan markets have remained slightly above Spain and Portugal, where prices were around €178–184/MWh. The Nordic countries continued to record some of the lowest electricity prices in Europe.
Greece and Bulgaria lead the shift as renewables expand
The trend is particularly visible in Greece and Bulgaria, where renewable capacity has expanded rapidly. Greece has increased its wind and solar generation, while Bulgaria combines strong solar growth with one of Southeast Europe’s fastest-expanding battery storage portfolios. The changes in generation mix align with the lower price levels observed in both countries compared with Central Europe.
Battery storage’s role in intraday price swings
Battery storage is becoming increasingly important as higher volumes of low-cost solar generation increase intraday price fluctuations. Batteries can store surplus electricity during periods of strong solar output, which helps reduce curtailment. They can then release power during evening demand peaks, when gas-fired generation and imports can push prices higher.
Limits on regional convergence from grid constraints
Cross-border transmission constraints and fragmented national electricity markets continue to limit regional price convergence. Significant price differences can remain between neighbouring power exchanges even when lower-cost electricity is available elsewhere in Southeast Europe. Further progress depends on continued investment in battery storage in Greece, additional wind capacity in Bulgaria, and stronger renewable and storage development across the Western Balkans.
Market coupling and grid investment for cross-border trading
Greater market coupling and investment in electricity grids would support more efficient cross-border flows of lower-cost generation. Sustaining improved pricing conditions depends not only on adding new renewable capacity, but also on ensuring that grids, storage infrastructure, and cross-border electricity trading develop quickly enough to match the region’s changing power market.