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.
Gas as the marginal shock transmitter in South-East European power prices
Gas has become the most misunderstood variable in South-East Europe’s electricity markets. It no longer needs to dominate generation volumes,
Carbon convergence as a timing risk in South-East European power trading
Carbon convergence has become the most consequential timing risk in South-East European power trading. Direction is broadly agreed: carbon costs
The structural mismatch between system value and market remuneration
South-East Europe’s power markets are increasingly characterised by a widening gap between where system value is created and where revenue is actually captured.
Flexibility assets as regional trading instruments rather than national arbitrage tools
Flexibility assets in South-East Europe are no longer best understood as domestic arbitrage machines smoothing hourly price curves. They are
Congestion-driven volatility and the reordering of regional price hierarchies
South-East Europe’s power markets are undergoing a quiet but decisive reordering in which congestion, rather than generation cost, increasingly determines
Winter stress events as continental trading events
Winter stress events have evolved from regional anomalies into continental trading events that simultaneously reshape demand, supply, and transmission conditions
Declining inertia and the structural repricing of balancing and intraday markets
The repricing of South-East Europe’s power markets is increasingly driven not by energy scarcity but by the erosion of system
Transmission corridors as the real price-setting assets of South-East Europe
In South-East Europe, transmission corridors have overtaken generation assets as the primary determinants of price formation. While installed capacity figures
Cross-border interdependence as the dominant trading constraint in South-East Europe
South-East Europe has crossed a structural boundary where national supply–demand balances no longer determine market outcomes on their own. Power