Winter markets at the periphery: How Montenegro, Croatia and Albania shape their place in the regional power price landscape Read More »

Winter markets at the periphery: How Montenegro, Croatia and Albania shape their place in the regional power price landscape

The western edge of the Balkan electricity system enters December 2025 with a familiar imbalance: structurally small power exchanges, modest liquidity, highly weather-sensitive production, and an almost total dependence on neighbouring hubs for price formation. Montenegro, Croatia and Albania sit outside the gravitational core created by HUPX, OPCOM, SEEPEX and IBEX, yet their winter price […]

Winter prices without the crisis heat: December 2025 market dynamics and a forecast for Q1 2026 Read More »

Winter prices without the crisis heat: December 2025 market dynamics and a forecast for Q1 2026

December 2025 opens the winter season in Central and South-East Europe with a familiar but very different energy landscape. The fears that once shaped the region’s winter outlook — tight gas balances, extreme price volatility, supply threats and fragile thermal fleets — have been replaced by a calmer, more technically governed market. The price signals

Serbia’s energy dilemma: EPS faces a slow-burning crisis amid calls for accountability Read More »

Serbia’s energy dilemma: EPS faces a slow-burning crisis amid calls for accountability

For decades, Serbia’s national utility, Elektroprivreda Srbije (EPS), operated under the illusion of indestructibility. Its sprawling lignite mines, ageing thermal plants and hydropower dams formed the backbone of a system that appeared resistant to regional shocks, political storms and market fluctuation. Serbia was one of few European countries that could boast of electricity self-sufficiency, even

Serbia’s energy future at stake in post-Russia gas power struggle Read More »

Serbia’s energy future at stake in post-Russia gas power struggle

For more than two decades, Serbia’s political and economic stability rested on a simple, unwritten assumption: Russian gas would continue to flow, reliably, predictably and at preferential terms negotiated quietly between Belgrade and Moscow. The relationship was never merely commercial. It was geopolitical architecture disguised as commodity trade. Moscow guaranteed supply; Belgrade guaranteed loyalty —

Sanctions on NIS trigger Serbia’s most severe financial stress test in a generation Read More »

Sanctions on NIS trigger Serbia’s most severe financial stress test in a generation

When the United States expanded its sanctions targeting Russian energy interests, few policymakers in Belgrade initially grasped the magnitude of what was unfolding. On the surface, nothing had changed: Serbia’s biggest oil company, NIS, majority-owned by Gazprom Neft, continued operating its refinery in Pančevo, its trucks still supplied fuel stations across the country, and its

The sanctioned asset: How U.S. pressure on NIS turns Serbia’s oil sector into a geopolitical prize Read More »

The sanctioned asset: How U.S. pressure on NIS turns Serbia’s oil sector into a geopolitical prize

When Washington quietly tightened the sanctioning architecture targeting Russia’s energy interests, Belgrade began feeling tremors long before any official measure referenced Serbia. The country’s largest oil company, NIS, majority-owned by Gazprom Neft, found itself drawn into the gravitational field of a much broader confrontation. The pressure did not resemble the blunt embargoes of previous eras;

Elnos Serbia to build network connection for Balkans’ largest wind farm Read More »

Elnos Serbia to build network connection for Balkans’ largest wind farm

Elnos Serbia has signed a contract with Sinohydro Corporation Limited, a subsidiary of PowerChina, to participate in the construction of the Vetrozelena wind farm, poised to become the largest standalone wind installation in the Balkans. The project will have a total installed capacity of 300 MW, featuring 48 turbines rated at 6.25 MW each. Under

Romania: GE Vernova to supply 42 turbines for Greenvolt’s second wind project Read More »

Romania: GE Vernova to supply 42 turbines for Greenvolt’s second wind project

GE Vernova has secured a new agreement to provide turbines for Greenvolt Power’s second utility-scale wind project in Romania, strengthening the Portuguese group’s footprint in the country’s rapidly expanding renewable energy market. Under the contract, GE Vernova will supply, install, and commission 42 onshore wind turbines from its 6.1 MW, 158-meter platform for the Gurbanesti

Romania: DEER launches largest smart meter program, aiming for 1.1 million installations Read More »

Romania: DEER launches largest smart meter program, aiming for 1.1 million installations

Distributie Energie Electrica Romania (DEER) has announced the largest procurement and installation program in the company’s history, committing to deploy 1.1 million smart meters across its service territory. This ambitious investment aims to accelerate the modernization of Romania’s electricity distribution network and support the broader transition to a fully digital energy system. The initiative is

Romania: Wind CfD auction signals strong investor confidence and cost efficiency Read More »

Romania: Wind CfD auction signals strong investor confidence and cost efficiency

Romania’s latest Contracts for Difference (CfD) auction for wind projects delivered prices significantly below the ceiling set by national authorities, reflecting strong investor confidence and a growing pool of competitive, mature projects. The Ministry of Energy had targeted at least 290 MW for this round, but nearly 316 MW ultimately secured contracts, reinforcing momentum in

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