SEEPEX March 2026: day-ahead volumes rise, prices jump—what it signals for Serbia’s power market

Serbia’s electricity trading landscape showed both improving liquidity and firmer pricing in March 2026, according to results from the SEEPEX exchange. For market participants watching short-term power dynamics, the month delivered a clear uptick in activity alongside a sharp increase in key price benchmarks.

More electricity traded on the day-ahead market

In March 2026, a total of 447,933 MWh of electricity was traded on the day-ahead market of the Serbian energy exchange SEEPEX. That volume represented a 10.5% increase compared with the previous month, translating into an average daily volume of 14,772 MWh.

Even with that month-on-month improvement, trading remained weaker year over year: March’s total was still 12% lower than in the same month last year.

Base and peak prices climb sharply

The pricing picture was notably stronger than February. The average daily base price on SEEPEX’s day-ahead market stood at €94.67/MWh, up by a substantial 38%. Meanwhile, the average euro-peak price reached €83.26/MWh, increasing by 12.4% versus February.

A decade-plus effort to build regional trading liquidity

The exchange itself has been expanding its role in regional power markets since its launch on 17 February 2016. At inception, traded volume totaled just 1,925 MWh, highlighting how far activity has progressed over time.

SEEPEX is jointly owned by EMS (the Serbian electricity transmission system operator) and EPEX SPOT. Its stated purpose is to help develop a competitive, transparent, and reliable electricity market in Serbia and across Southeast Europe—while also encouraging greater trading activity throughout the region.

An intraday platform added liquidity and flexibility

beyond day-ahead trading, SEEPEX broadened its offering with an additional product layer: an <intraday market launched in July 2023. The move was designed to further strengthen liquidity and provide more flexibility for electricity traders operating around real-time needs.