Net electricity imports, 2025
4.5TWh
Romania shifted from electricity exporter to a structurally import-dependent market, the highest net imports in over three decades.
Net imports 2014–2025 (negative = net exports) · p. 29
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Chapter 02
Electricity
From exporter to importer: how a weaker hydro year, rapid solar growth and a tightening system reshaped Romania’s power market in 2025, and where prices are heading to 2050.
- In this chapter
- Key facts20
- Generation mix by fuel21
- Installed capacity22
- Romania in the EU power mix23
- Wholesale price outlook to 205024
- Balancing & ancillary services25
- Monthly & daily wholesale prices26
- Hourly price heat map27
- Consumption & GDP28
- Net imports29
- Trade by neighbour30
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Key facts
Electricity 2025
Four numbers that summarise Romania’s power market this year. Each one links to the page where the evidence sits.
Hydro generation, 2025 vs 2023
−32%
Hydropower decline constrained electricity supply despite continued renewable expansion.
Hydro generation, TWh · p. 21
Solar PV capacity, 2025 vs 2024
+80%
Solar capacity expanded rapidly, reshaping Romania’s electricity generation portfolio.
Installed solar PV, GW · p. 22
Day-ahead price forecast, 2050
€74/MWh
Wholesale prices moderate, but volatility increasingly rewards system flexibility and storage.
Day-ahead average, €/MWh · p. 24
Romanian Energy Market Annual Report20
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Generation mix
Romania’s electricity mix became increasingly constrained after 2023, as declining hydropower outweighed solar generation and nuclear output.
Electricity generation by fuel type · GWh, 2022–2025
Fig. 2.1- Falling hydropower generation accounted for most of the nearly 8 TWh decline in total electricity production since 2023.
- Stable nuclear generation cushioned the impact of weaker hydro conditions, maintaining around one-fifth of total electricity supply.
- Growing solar PV partially compensated for lower hydro output, but its scale remained insufficient to offset losses.
- Coal generation continued its downward trajectory, indicating gradual progress towards a lower-carbon electricity mix despite lower overall generation.
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Installed capacity
Romania’s installed capacity reached a record 19.4 GW in 2025, driven by rapid solar expansion despite continued coal retirements.
Installed power generation capacity by technology · MW, 2022–2025
Fig. 2.2- Total installed capacity increased by nearly 1.2 GW since 2023, reflecting sustained investment in new generation assets.
- Solar PV capacity expanded by almost 1 GW between 2022 and 2025, becoming Romania’s fastest-growing generation technology.
- Coal capacity declined by approximately 1.5 GW, accelerating the transition away from carbon-intensive electricity generation.
- Hydro, nuclear and natural gas capacities remained broadly stable, providing system flexibility and security during the energy transition.
Romanian Energy Market Annual Report22
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EU comparison
Romania maintains one of the EU’s most diversified electricity mixes, reducing reliance on any single generation technology.
Electricity mix by EU country · share of generation, 2025
Fig. 2.3- Low-carbon sources provide around 65% of Romania’s electricity, led by hydro, nuclear and wind.
- Natural gas and coal together still account for roughly one-third of electricity generation, highlighting remaining decarbonisation challenges.
- Romania’s electricity mix is more balanced than many EU peers, avoiding excessive dependence on either nuclear or fossil fuels.
- Solar contributes a relatively modest share compared with southern European countries, indicating significant untapped expansion potential.
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Price outlook to 2050
Romania’s electricity market is projected to deliver structurally lower wholesale prices by 2050, despite persistent inflationary pressures.
Electricity market indices vs inflation · index, 2025 = 1.00
Fig. 2.4Day-ahead and balancing price forecast · €/MWh, 2025–2050
Fig. 2.5- Day-ahead market prices are projected to decline nearly 40%, from around €118/MWh to €74/MWh by 2050.
- Balancing market prices remain increasingly volatile, with surplus prices falling to around 0.5× 2025 levels by 2050.
- Inflation is forecast to increase by approximately 65% by 2050, outpacing electricity price growth over the period.
- The widening gap between deficit and surplus balancing prices signals stronger incentives for flexibility and energy storage investments.
Romanian Energy Market Annual Report24
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Balancing & ancillary services
Romania’s balancing and ancillary service markets are projected to become more cost-efficient while increasingly rewarding system flexibility by 2050.
Balancing market bid price forecast · €/MWh, 2025–2050
Fig. 2.6Ancillary services reservation fee forecast · €/MWh, 2025–2050
Fig. 2.7- aFRR reservation fees are projected to halve by 2030, stabilising near €7/MWh thereafter.
- mFRR reservation fees decline steadily, reducing ancillary service procurement costs by roughly 50% over the forecast period.
- aFRR bid prices fall from approximately €180/MWh to €65/MWh, reflecting lower balancing costs.
- mFRR bid prices nearly triple to around €100/MWh, indicating growing value for slower balancing services by 2050.
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Wholesale prices
Romanian wholesale electricity prices moderated in 2025, although pronounced seasonal and intraday volatility continued to shape market dynamics.
Monthly wholesale electricity prices · €/MWh, 2024–2025
Fig. 2.8Average daily profile of wholesale prices · €/MWh by hour, 2025 – May 2026
Fig. 2.9- Monthly wholesale prices declined from nearly €160/MWh in February to below €90/MWh by late spring 2025.
- Evening price peaks consistently exceeded €850/MWh, highlighting persistent ramping needs during high-demand hours.
- Compared with 2025, early-2026 prices shifted towards earlier evening peaks, reflecting changing demand and renewable generation patterns.
- Wholesale prices recovered above €120/MWh during autumn 2025, underlining the strong seasonal influence on electricity markets.
Romanian Energy Market Annual Report26
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Price patterns
Romania’s wholesale electricity prices followed a pronounced pattern, reflecting renewable generation variability and evening demand peaks.
Wholesale electricity prices by hour and month · €/MWh, 2025
Fig. 2.10
- Evening hours (18:00–21:00) recorded the highest prices throughout the year, reflecting peak demand and lower renewable output.
- Price volatility intensified during autumn and winter, with more frequent high-price periods extending beyond evening peak hours.
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Demand
Romania’s electricity demand has remained broadly stable while maintaining one of the EU’s lowest electricity intensities relative to economic output.
Electricity consumption in Romania · TWh, 2015–2025
Fig. 2.11Electricity consumption per unit of GDP, EU · TWh / bn PPS, 2023–2025
Fig. 2.12- Electricity consumption recovered to 55.3 TWh in 2024, remaining below the 57.0 TWh peak recorded in 2022.
- Demand has fluctuated within a narrow 52–57 TWh range since 2015, indicating a mature electricity market.
- Romania ranks among the EU’s least electricity-intensive economies, consuming around 0.09 TWh/billion PPS in 2025.
- Electricity consumption per unit of GDP remained broadly stable between 2023 and 2025, suggesting modest efficiency improvements.
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Cross-border trade
Romania has shifted from a long-standing net electricity exporter to a structurally import-dependent market in recent years.
Net electricity imports · TWh, 1990–2025 · negative = net exports
Fig. 2.13- Net electricity imports reached approximately 4.5 TWh in 2025, the highest level in over three decades.
- Romania remained a net exporter for most of 1999–2019, with exports peaking near 7 TWh in 2014.
- The transition to net imports after 2020 reflects tightening domestic supply amid changing generation patterns.
- Import dependency has increased markedly since 2023, highlighting growing reliance on regional electricity markets for security of supply.
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Cross-border trade
Romania’s cross-border electricity trade remained concentrated, with Hungary and Bulgaria dominating bilateral exchanges.
Electricity imports and exports by neighbouring country · TWh, 2025 · imports shown as negative
Fig. 2.14- Hungary was Romania’s largest electricity trading partner, recording the highest import and export volumes in 2025.
- Romania imported around 6 TWh from Bulgaria, making it the country’s primary source of electricity imports.
- Electricity trade with Serbia resulted in a net import position, reflecting regional supply dynamics in Southeast Europe.
- Cross-border exchanges with Moldova and Ukraine remained limited, contributing only marginally to Romania’s overall electricity trade.
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