Exporting volatility: How SEE power risk is absorbed by core EU markets
South-East Europe’s electricity markets do not exist in isolation. By 2025, they were tightly interwoven with Central and Western Europe
volatility
Volatility without borders
Volatility used to be treated as a market-specific phenomenon. Electricity was volatile because demand had to be balanced in real
Trading energy in a system under stress: Portfolios, hedging, and survival in a multi-fuel market
Energy trading was once about exploiting inefficiencies. Price differences across regions, fuels, or time horizons were treated as opportunities for
Gas at the centre: How balancing, LNG, and spark spreads now define power prices
For most of Europe’s electricity-market history, natural gas played a supporting role. It was a reliable, dispatchable fuel that complemented
Volatility is no longer cyclical: How shocks now propagate across Europe’s energy system
For much of Europe’s post-liberalisation energy history, volatility was understood as a cyclical phenomenon. Prices rose and fell in response