Hydropower in South-East Europe: Feasibility without commitment, projects without groundworks Read More »

Hydropower in South-East Europe: Feasibility without commitment, projects without groundworks

Across South-East Europe, hydropower development has settled into a stable but deeply unproductive equilibrium. Feasibility studies are commissioned, revised and relaunched with increasing technical sophistication, while the physical projects they describe remain untouched. This is not a failure of hydrology, engineering or economics. It is a deliberate system in which analysis substitutes for decision-making and […]

Perspective gas interconnections but never converted into steel in the ground Read More »

Perspective gas interconnections but never converted into steel in the ground

Across South-East Europe’s gas sector, feasibility studies have become a permanent layer of the energy system rather than a transitional step toward construction. The region is not short of concepts, routes, demand forecasts or engineering detail. What it lacks is the moment when capital, regulation and political ownership converge tightly enough to force execution. The

Carbon cost pass-through in post-Russian SEE energy systems  Read More »

Carbon cost pass-through in post-Russian SEE energy systems 

The withdrawal of Russian ownership from oil assets across South-East Europe has not only altered who controls energy infrastructure, but also how costs are transmitted through the energy system. One of the most consequential shifts lies in the treatment of carbon. Under the previous ownership and pricing regime, carbon costs were often implicit, absorbed within

Hydrogen economics under gas repricing  Read More »

Hydrogen economics under gas repricing 

Hydrogen has been positioned across South-East Europe as a strategic bridge between energy security, industrial decarbonisation and European integration. National strategies, pilot projects and policy roadmaps have converged around hydrogen as a future-proof solution capable of absorbing surplus renewables, decarbonising heavy industry and anchoring new investment cycles. Yet the ownership exit of Russian oil assets

Refinery by-products: Petcoke, bitumen and construction inflation in South-East Europe Read More »

Refinery by-products: Petcoke, bitumen and construction inflation in South-East Europe

The transfer of ownership of Russian oil assets across South-East Europe has not only changed who controls refineries and fuel retail networks; it has fundamentally altered how a range of secondary energy commodities are priced, supplied and financed. These by-products of refining—petroleum coke, bitumen, sulphur and heavy fuel intermediates—rarely feature in high-level energy debates, yet

Nuclear fuel and uranium: Europe’s quiet Russian dependency Read More »

Nuclear fuel and uranium: Europe’s quiet Russian dependency

The ownership exit of Russian oil assets from South-East Europe has sharpened attention on vulnerabilities that were long considered peripheral to the region’s energy debate. Among them, nuclear fuel stands out as the least visible and yet most structurally entrenched dependency. While oil and gas flows dominate political discourse, the nuclear fuel cycle continues to

Coal and lignite after oil: Hidden subsidy crisis in SEE electricity Read More »

Coal and lignite after oil: Hidden subsidy crisis in SEE electricity

The reordering of ownership in South-East Europe’s oil sector has had an effect far beyond fuels and refineries. By forcing oil pricing onto transparent, market-based terms, it has removed a long-standing buffer that masked deeper distortions elsewhere in the energy system. Nowhere is this more evident than in electricity generation based on coal and lignite.

Gas markets without Russian ownership: Volatility as a structural feature in South-East Europe Read More »

Gas markets without Russian ownership: Volatility as a structural feature in South-East Europe

The withdrawal of Russian ownership from oil assets across South-East Europe has triggered a deeper and more destabilising shift in the region’s natural gas markets. While oil ownership changes are visible and politically managed, gas has become the silent transmission channel through which volatility, balance-sheet stress and structural dependency now propagate. Unlike oil, gas markets

Romania plans gradual gas price cap phase-out to ensure market stability Read More »

Romania plans gradual gas price cap phase-out to ensure market stability

Romanian authorities are preparing a contingency plan for the gas market to ensure a smooth transition when regulated pricing ends, in case unexpected disruptions occur. Energy Minister Bogdan Ivan stated that the government is considering a phased approach to removing the gas price cap rather than eliminating it abruptly. The matter was discussed at a

North Macedonia: Day-ahead electricity trading rises in December 2025 as prices ease Read More »

North Macedonia: Day-ahead electricity trading rises in December 2025 as prices ease

In December 2025, electricity trading on North Macedonia’s day-ahead market reached a total volume of 118,102.7 MWh, marking a 19.9% increase compared to 98,508 MWh in December 2024. Trading activity also rose 8.2% month-on-month compared to November 2025. The average market-clearing price in December stood at €116.89/MWh, down 3.1% from the previous month, while the

Scroll to Top