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Balkan Energy

Energy news and analyses for countries of South East Europe Main focus of Balkan Energy NEWS is energy related news from countries of South East Europe.

Countries involved are: Albania, Bulgaria, Bosnia and Herzegovina, Croatia, Greece, FYR Macedonia, Montenegro, Romania, Serbia, Slovenia and Turkey. Besides all regional energy related news, we are giving you in each issue one market analysis and review of the tenders announced and held in this area. You will be also able to see review of relevant power exchanges. News are published to subscribers

only as an .pdf edition, two times per month (24 issues annually). First monthly edition is published in the middle of the month, covering events from the first half of the month. Second monthly edition is published by the end of the month, covering events from the second half of the month. Who should subscribe? The readers who will mostly benefit from the content of Balkan Energy News are: energy trading companies, investors, consulting companies, financial institutions, electricity generation companies, electricity distribution companies, transmission system operators, authorities, etc.

08/06/2026

The European Commission has intensified its infringement proceedings against Hungary and Romania, urging both countries to fully incorporate updated EU energy efficiency legislation into their national legal frameworks.

Brussels issued reasoned opinions to the two member states after determining that key provisions of the revised Energy Efficiency Directive have yet to be properly transposed into domestic law. The move represents the next step in the infringement process and increases pressure on both governments to address the outstanding gaps.

The directive, adopted in 2023, required EU countries to notify the Commission of most implementation measures by October 2025. While the Commission initially launched action against 26 member states for incomplete transposition, most have since made progress. Hungary and Romania, however, remain among the countries that have not fully met their obligations.

Both Governments now have two months to respond and bring their legislation into line with EU requirements. Failure to do so could result in the Commission referring the cases to the Court of Justice of the European Union, potentially leading to financial sanctions.

The updated directive forms a key part of the EU’s broader energy and climate strategy. It establishes new targets for reducing energy consumption and increasing energy savings across the bloc, while also supporting efforts to improve energy security and lower costs for consumers.

Particular emphasis is placed on measures designed to tackle energy poverty, improve the efficiency of public buildings and reduce energy use across the public sector. The legislation also reinforces the principle of prioritizing energy efficiency when Governments make policy decisions or approve major investments.

Under this approach, energy efficiency considerations must be integrated not only into energy policy but also into decisions affecting other sectors of the economy. European policymakers view the principle as a cornerstone of the bloc’s transition toward a more sustainable, secure and affordable energy system.

With the latest warning from Brussels, Hungary and Romania face mounting pressure to complete the legislative changes required to align with one of the European Union’s central energy policy reforms.

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05/06/2026

Countries in Southeastern and Eastern Europe are making steady progress in strengthening natural gas security, according to the Energy Community Secretariat’s 2026 Gas Storage Report, which points to growing alignment with European Union energy security rules and storage requirements.

The report notes that governments covered by the Energy Community Treaty are continuing efforts to ensure adequate gas reserves before each winter season and improve resilience against potential supply disruptions during periods of market stress.

Serbia and Ukraine, the only contracting parties with underground gas storage facilities, are required to meet specific storage-filling targets. Both countries surpassed their obligations for 2025 and remained ahead of the storage trajectories established for early 2026. Serbia’s mandatory target is set at 90 % of storage capacity, while Ukraine’s requirement is calculated at 35 % of its average annual gas consumption due to the country’s exceptionally large storage infrastructure.

Data included in the report show that Serbia’s Banatski Dvor facility reached storage levels of 58 % at the beginning of February and 44 % by 1 May 2026. Ukraine also exceeded its interim storage benchmark for the same period.

Among countries without domestic storage facilities, Moldova is highlighted as a leading example of preparedness. The country has developed a dual reserve system consisting of emergency stocks reserved for crisis situations and commercial inventories maintained under storage regulations. Combined reserves exceeded one-fifth of annual gas demand.

North Macedonia has also advanced its preparations by incorporating EU storage legislation into national law and completing key risk assessment procedures. However, a planned arrangement for accessing storage capacity in neighboring Bulgaria has not yet become operational.

The report concludes that the region is gradually improving its ability to manage supply risks through stronger regulatory frameworks, increased storage preparedness and closer alignment with European energy security standards, although further work remains in several markets.

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03/06/2026

The European Union is unlikely to introduce a full ban on Russian oil imports or prohibit maritime services linked to Russian crude shipments in its upcoming 21st sanctions package, as member states remain divided over the introduction of tougher measures.

According to diplomatic sources, discussions in Brussels have instead shifted toward the future of the existing oil price cap mechanism, with policymakers focusing on how to preserve its effectiveness amid rapidly changing market conditions.

Rather than expanding restrictions on oil trade and transportation, EU governments are considering whether to maintain the current price ceiling for Russian crude. Officials are concerned that the existing formula, which automatically adjusts the cap based on market developments, could unintentionally weaken the impact of sanctions if oil prices continue to rise.

Under rules introduced in 2025, the maximum permitted price for Russia’s Urals crude is set at 15 % below the average market price and is reviewed every six months. European shipping, insurance and related service providers are prohibited from handling Russian oil sold above that threshold.

Recent developments in global energy markets have complicated the system. Higher crude prices, driven by tensions in the Middle East and disruptions affecting traffic through the Strait of Hormuz, have increased the likelihood that the next scheduled revision would significantly raise the allowable price for Russian exports.

The current cap stands at 44.1 dollars per barrel. If the automatic adjustment mechanism remains unchanged, the next review expected later this summer could lift the limit to around 65 dollars per barrel. Such an increase would substantially reduce the pressure sanctions are intended to place on Russian oil revenues.

As a result, EU officials are reportedly examining options to temporarily freeze the existing ceiling rather than allow it to rise automatically. Supporters of this approach argue that maintaining the current level would preserve the effectiveness of the sanctions regime without requiring agreement on more controversial restrictions that currently lack broad backing among member states.

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28/05/2026

Romanian hydropower producer Hidroelectrica is preparing a large-scale expansion of floating solar generation on the Lower Olt river, with plans to add 90 MW of new solar capacity and deploy large battery storage systems alongside the projects.

According to tender documents published through Romania’s electronic procurement platform, the company intends to build floating solar power plants on the reservoirs of five hydropower plants: Ipotesti, Draganesti, Frunzaru, Rusanesti and Izbiceni.

Most of the planned installations will have a capacity of 20 MW each, while the Ipotesti site will receive an additional 10 MW on top of the 10 MW floating solar facility already under construction there.

In parallel with the solar expansion, Hidroelectrica also plans to install energy storage systems at each location. Every site is expected to include a 40 MW battery system with four-hour storage duration, bringing the combined storage portfolio to 200 MW and 800 MWh.

The company’s concept envisages placing floating solar panels directly on reservoir surfaces, while battery storage facilities would be built on nearby land downstream from the hydropower dams. The tender documentation also leaves open the possibility of combining land-based and floating renewable systems near existing hydroelectric assets.

Once completed, the projects would significantly expand Hidroelectrica’s hybrid renewable energy portfolio by combining hydropower, floating solar generation and large-scale battery storage within the same infrastructure network.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

25/05/2026

Romania’s electricity transmission operator Transelectrica has joined forces with Romanian utility Delgaz Grid and Bulgarian electricity transmission operator ESO in a major cross-border energy modernization initiative that has secured substantial European financing under the Connecting Europe Facility (CEF).

The financing agreement for the CARMEN Smart Grid project, valued at some 207 million euros, was formally signed on 22 May in Copenhagen during the Energy Infrastructure Forum. The deal was concluded with representatives of the European Climate, Infrastructure and Environment Executive Agency and attended by senior European Commission officials.

European funding will provide nearly 104 million euros for the initiative, covering around half of total project costs through the European Union’s program dedicated to Projects of Common Interest. The remaining investment will be supplied directly by project participants.

Delgaz Grid, part of the E.ON group in Romania, will oversee investments worth 77.5 million euros, with nearly 39 million covered by grants. Transelectrica’s share amounts to 70.7 million euros, supported by approximately 35.4 million in non-reimbursable EU financing. Bulgarian transmission operator ESO will implement investments valued at 59.3 million euros, backed by 29.6 million in European funding.

The CARMEN initiative represents the first Smart Grids Project of Common Interest to receive European financial backing for transmission and distribution network modernization in Romania. The project is designed to strengthen electricity infrastructure through digital technologies while enabling greater integration of renewable energy generation.

Planned upgrades include network automation, network modernization and deployment of advanced monitoring technologies intended to improve system reliability, operational flexibility and energy security. The project also seeks to increase cross-border electricity exchange capacity between Romania and Bulgaria by easing network congestion and strengthening interconnection capabilities.

Modern smart-grid technologies such as Dynamic Line Rating systems, FACTS equipment and real-time monitoring solutions are expected to enhance supply stability while helping transmission and distribution operators improve coordination through shared digital tools and data exchange platforms.

The broader objective is to support European climate targets by strengthening renewable energy integration, improving energy efficiency and building infrastructure capable of supporting long-term decarbonization goals.

In Romania, infrastructure investments linked to the project will be concentrated across six counties where Delgaz Grid operates electricity distribution systems; Bacau, Botosani, Iasi, Neamt, Suceava and Vaslui, with upgrades focusing on digitalization, automation and modernization of local distribution networks.

Under Bulgaria’s investment program, work is scheduled through 2032 and includes upgrades, expansion and digital automation systems at substations in Dobrudzha, Varna, Gorna Oryahovitsa, Mizia and Balkan.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

21/05/2026

A large-scale energy infrastructure investment is set to pave the way for the planned Pantheon AI campus in Topusko, with construction of transmission facilities expected to begin in late 2027 as preparations advance for one of Croatia’s most ambitious technology projects.

Project representatives said the development of power infrastructure is a prerequisite for the future AI data center, which carries an estimated overall value of 50 billion dollars. The energy segment alone, including transmission assets, is projected to require between 400 million and 450 million euros in investment.

According to project lead Mario Gudelj and Dalekovod Group CEO Bruno Stambak, whose company is participating in the initiative through the Koncar Group partnership, financing for the transmission infrastructure has already been secured. Current timelines still target the first users entering the facility during the opening quarter of 2029.

The planned energy network will include a new 400 kV system consisting of four transmission lines stretching roughly 300 kilometers and a new transformer station expected to become Croatia’s largest. After completion, the assets are intended to be transferred to the Croatian transmission system operator HOPS.

Developers stressed that the energy solution is designed with redundancy and reliability in mind. While the future AI campus is expected to require approximately 1 GW of power, the supporting infrastructure is being developed with considerably larger capacity margins. Each of the four planned transmission lines would have capacity of roughly 1.3 GW, ensuring long-term operational stability.

Electricity procurement plans also differ from conventional market sourcing. The project team stated that power demand will primarily be covered through long-term supply agreements rather than relying directly on Croatia’s wholesale electricity market. One agreement has already been signed with Greenvolt, while additional supply is expected from renewable energy developers.

Solar, wind, geothermal and hydropower facilities are all envisioned as future supply sources. The project additionally includes plans for battery storage systems aimed at improving flexibility and supporting network balancing.

Developers estimate the AI center will ultimately require about 2 GW of combined renewable generation capacity to meet annual electricity needs. They also argue that investments tied to the project could strengthen Croatia’s electricity network and potentially create conditions for connecting more than 5 GW of additional renewable energy projects that are currently awaiting implementation.

Project officials dismissed concerns that the future facility could contribute to electricity shortages or significantly influence market prices, pointing instead to expected growth in domestic power generation over the coming years.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

19/05/2026

Regional gas infrastructure upgrades linked to the Vertical Gas Corridor are expected to significantly strengthen natural gas flows across Southeast Europe over the coming months, according to Bulgartransgaz CEO Vladimir Malinov.

Speaking at the Energy Transition Summit in Athens, the head of Bulgartransgaz announced that new infrastructure enabling higher gas transmission volumes from Greece to Bulgaria is scheduled to enter operation on 1 July. A second phase aimed at increasing transport capacity between Bulgaria and Romania is expected to become operational before the end of the year.

The planned upgrades are part of broader regional efforts to improve energy connectivity and diversify supply routes amid growing demand for liquefied natural gas imports in Central and Southeastern Europe.

Malinov stated that international LNG suppliers, particularly major US companies, increasingly view Southeastern Europe’s gas infrastructure as reliable and strategically important. He added that coordinated work between transmission system operators, regulators and the European Commission had already resulted in a framework for long-term tariff optimization across the corridor.

According to him, the revised tariff structure is expected to improve market attractiveness, stimulate competition and create better conditions for securing gas deliveries under more favorable commercial terms, including LNG imports.

He also emphasized the importance of regional coordination in negotiating future supply agreements. By combining demand from countries connected through the Vertical Gas Corridor, regional buyers could gain stronger bargaining power with LNG exporters and potentially secure lower long-term prices while simultaneously reducing transmission costs across the network.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

14/05/2026

Imports of Russian liquefied natural gas (LNG) into the European Union climbed to their highest quarterly level since the outbreak of the war in Ukraine, highlighting the bloc’s continuing reliance on global LNG markets despite efforts to phase out Russian energy supplies.

According to research published by the Institute for Energy Economics and Financial Analysis (IEEFA), EU member states imported 6.9 billion cubic meters of Russian LNG during the first quarter of the year, representing a 16 % increase compared to the same period last year. The institute also noted that the upward trend continued into April, when imports were estimated to be 17 % higher year-on-year.

Although pipeline gas deliveries from Russia to Europe have largely collapsed since 2022, several EU countries continue purchasing Russian LNG cargoes transported by tanker. France, Spain and Belgium remain among the largest buyers.

The increase comes at a time when global energy markets are under pressure from supply disruptions linked to conflict in the Middle East, forcing countries to compete for alternative gas supplies.

Despite the recent rise in imports, the European Union has maintained its objective of eliminating all Russian oil and gas purchases by the end of 2027.

At the same time, the bloc has significantly expanded purchases of LNG from the United States. Since 2021, imports of American LNG into Europe have more than tripled, while deliveries in the first quarter alone increased by 27 % compared to the previous year.

The IEEFA estimates that the United States could become the EU’s largest overall gas supplier by 2026 and potentially account for around 80 % of European LNG imports by 2028. However, the institute warned that American LNG remains the most expensive supply source for European consumers.

The study argued that Europe’s strategy of replacing pipeline gas with LNG has not fully delivered the expected energy security and diversification benefits, while ongoing geopolitical disruptions and Europe’s growing dependence on US LNG have exposed vulnerabilities in the bloc’s current energy approach.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

13/05/2026

E.ON Hungaria Group has finalized a large-scale electricity network modernization initiative worth approximately 322 million euros, completing a multi-year investment program launched in 2022 to strengthen network reliability and support the expansion of renewable energy across Hungary.

The utility said the project included upgrades and reconstruction works on more than 1,800 kilometers of electricity infrastructure, alongside the installation or modernization of over 2,800 transformers. The improvements are expected to reduce the frequency and duration of outages while also accelerating fault detection and restoration processes through enhanced digital monitoring systems.

Part of the financing was secured through the European Union’s Recovery and Resilience Facility, while the remainder was covered through the company’s own investments.

A major objective of the program was to increase the network’s ability to integrate weather-dependent renewable energy sources, particularly the rapidly growing number of household solar installations. The development package added more than 1,000 MW of new network capacity, creating conditions for further expansion of solar generation.

According to the company, Hungary currently has around 350,000 residential solar systems connected to the network, with more than 200,000 located within E.ON’s service territory. Since 2020, the number of solar installations connected to the company’s network has grown sharply.

The modernization works also included the construction of six new substations and the expansion of several existing facilities. Among the key projects were the Tolna-Mozs substation serving the Szekszard region, the Kelenfold facility with a green roof structure and the Ormezo substation in Budapest.

Regionally, E.ON invested around 126 million euros in North Transdanubia, 84 million euros in South Transdanubia and 112 million euros in Budapest and Pest county.

Environmental considerations also played a role in the investment program. In the protected Buda Landscape Protection Area, the company laid around 50 kilometers of underground cables and removed roughly 450 utility poles to reduce the visual impact on the environment.

E.ON stated that the completion of the current program does not mark the end of its investment cycle, adding that several new network development initiatives have already been launched to prepare the system for future energy demand and further renewable integration.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

11/05/2026

Electricity generation delivered to the network by nuclear power plant Krsko has slightly declined in recent weeks due to environmental and operational conditions linked to low water levels in the Sava river.

Under normal operating conditions, the plant typically supplies more than 700 MW of electricity to the transmission network. However, production data published by Slovenian network operator ELES shows that output at the plant’s connection point has recently fallen to around 690 MW.

According to explanations provided by the nuclear plant operator, the reactor itself continues to operate steadily at full 100 % power. The lower amount of electricity exported to the network is mainly the result of increased internal electricity consumption and reduced thermodynamic efficiency in the secondary cooling system.

The issue is closely tied to restrictions related to the Sava river, whose water flow has declined because of limited rainfall. NPP Krsko uses river water within its tertiary cooling circuit to remove excess heat that cannot be converted into electricity production.

Water from the Sava is pumped through the plant’s condenser system before being returned to the river. During this process, the water absorbs heat from used steam, causing the river temperature to rise. Environmental regulations require the plant to ensure that the average daily temperature of the Sava at the designated monitoring point downstream from the Brezice hydropower plant does not exceed 28 degrees Celsius. In addition, the increase in river temperature caused by the plant must remain below an average of 3 degrees Celsius.

When conditions begin approaching these regulatory limits, the plant gradually activates cooling towers to reduce the thermal load discharged into the river. If those measures are insufficient, electricity output delivered to the network must also be reduced.

Plant officials noted that the current reduction in exported electricity is therefore primarily connected to cooling system adjustments and environmental protection requirements rather than any technical problems with the reactor itself.

Access our Energy News service on Balkan Energy Power Portal: www.portal.balkanenergy.com

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