Why South-East Europe still cannot hedge its own power risk
South-East Europe entered 2025 with a surface-level appearance of market maturity. Day-ahead and intraday trading volumes reached record levels across […]
trading
Southeastern Europe in the EU energy security framework: Implications of SWD(2025) 435 for gas, power and regional resilience
The European Commission’s Staff Working Document SWD(2025) 435 represents the first comprehensive fitness check of the EU’s modern energy-security architecture, assessing how
Why gas still decides competitiveness in South-East Europe
Competitiveness in South-East Europe’s energy-intensive economy is no longer determined by average electricity prices or by the headline cost of
Carbon convergence makes gas more important, not less, in South-East Europe
Carbon convergence across Europe is widely framed as a force that will marginalise gas over time. In South-East Europe, the
Trading the gas–power interface: Where South-East Europe’s volatility is actually made
In South-East Europe, most of the meaningful volatility is not created in outright gas markets or in flat power positions.
Industrial gas contracting in a power-dominated risk environment
Industrial gas contracting in South-East Europe has entered a regime where electricity risk, not gas price risk, is the dominant cost
Gas-fired capacity as regional system insurance and its chronic underpayment problem
Gas-fired generation in South-East Europe no longer earns its keep by running often. It earns it by being there when nothing
When power prices decouple from gas and why it happens in South-East Europe first
In mature power systems, electricity prices tend to track gas costs with reasonable consistency. Gas may not always be marginal,
Gas as a volatility multiplier in congested power systems
In South-East Europe, gas does not merely influence electricity prices through marginal cost. It multiplies volatility by interacting with structural congestion in
When LNG stops being a safety valve in South-East Europe
Liquefied natural gas is widely perceived as the ultimate backstop for gas-constrained power systems: flexible, global, and theoretically unconstrained by
The gas–power elasticity gap between South-East Europe and Central Europe
The same gas shock produces very different electricity outcomes depending on where it lands. In Central Europe, gas price movements
Gas tightness versus gas price: Why deliverability matters more than TTF in South-East Europe
In South-East Europe, the most disruptive electricity price events are rarely explained by movements in the Dutch TTF benchmark alone.