North Macedonia — physical cross-border flows, 2026

Every month of the year, every border, in energy and in money. Flows are measured; each megawatt-hour is valued at North Macedonia's own day-ahead price for the quarter-hour it actually crossed in.

Month by month

All borders together, with consumption for scale.

Month Consumption, MWh Physical exports Physical imports Zone price, €/MWh Difference € Import ÷ consumption
MWh€/MWh€ MWh€/MWh€
January 673,880 83,301 118.73 9,890,472 131,130 123.45 16,188,089 121.86 −6,297,617 19.5%
February 484,692 61,158 65.62 4,013,095 88,131 71.26 6,279,991 70.76 −2,266,896 18.2%
March 444,018 71,359 79.39 5,664,886 103,478 94.82 9,811,315 94.92 −4,146,429 23.3%
April 256,960 75,452 65.63 4,952,008 89,074 80.93 7,208,722 86.73 −2,256,714 34.7%
May 107,650 94,523 71.78 6,784,868 95,803 87.21 8,354,870 90.64 −1,570,002 89.0%
June 171,579 76,497 74.80 5,722,345 84,528 92.56 7,823,574 95.57 −2,101,229 49.3%
July 250,699 79,683 93.55 7,454,200 83,069 110.44 9,174,347 104.06 −1,720,147 33.1%
August 337,039 101,689 124.38 12,648,122 104,423 128.57 13,425,439 135.14 −777,317 31.0%
September34.2% of hours 60,726 24,824 126.42 3,138,118 25,744 134.97 3,474,652 148.28 −336,534 42.4%
Total 2,787,242 668,485 90.16 60,268,115 805,382 101.49 81,740,999 103.20 −21,472,884 28.9%

Consumption is measured separately, as the hourly average power summed over the month — not by adding up readings, since sources publish at different rates. The last column puts imports next to it for scale; it is not a dependency figure, because part of what enters passes straight through to another neighbour.

Where the difference comes from

21,472,884 € for 136,897 MWh that stayed in the country works out at 156.85 € per megawatt-hour, in a month that averaged 103.20.

  • Energy that stayed, at the month's average price 14,127,919 65.8%
  • What came in arrived above that average −1,375,251 -6.4%
  • What went out left below it 8,720,215 40.6%

The first line is energy the country needed and got. The other two — 7,344,964 € together — come not from how much moved but from when: cheap hours to sell in, expensive hours to buy in. That is the price of a timing mismatch, not a loss.

Official validation

The measured physical flow, checked against ANRE's published commercial trade.

Month Physical net, MWh Commercial net, MWh Difference, MWh Status
January ——— AWAITING OFFICIAL ANRE DATA
February ——— AWAITING OFFICIAL ANRE DATA
March ——— AWAITING OFFICIAL ANRE DATA
April ——— AWAITING OFFICIAL ANRE DATA
May ——— AWAITING OFFICIAL ANRE DATA
June ——— AWAITING OFFICIAL ANRE DATA
July ——— AWAITING OFFICIAL ANRE DATA
August ——— AWAITING OFFICIAL ANRE DATA
September ——— AWAITING OFFICIAL ANRE DATA

Gross volumes differ by design: the official indicators include transits, and a transit is counted once entering and once leaving, while a physical border sees it only once. Net figures converge, because transits cancel out — which is why the comparison is made on the net.

The percentage relates the difference to the month's commercial net. In a month with a small net, the same difference in MWh yields a larger percentage — which is why the difference is always shown in MWh as well.

ANRE publishes these exchanges as a physical balance in GWh. It publishes no import or export value and no average price per direction, so no money comparison is possible.

Physical cross-border flows and commercial electricity trades measure different phenomena. ANRE data is shown as an independent official benchmark and should not be interpreted as an exact reconciliation.

Border by border

Greece

Month by month, North Macedonia's side of this border.

Month Physical exports MWh €/MWh € Physical imports MWh €/MWh € Difference €
January 805 92.64 74,526 123,783 124.34 15,391,396 −15,316,869
February 97 48.61 4,703 83,174 71.40 5,938,717 −5,934,014
March 3,703 85.25 315,691 85,673 94.96 8,135,154 −7,819,463
April 20,223 76.56 1,548,203 47,445 75.92 3,601,954 −2,053,752
May 245 74.90 18,351 85,916 86.17 7,403,302 −7,384,950
June 7,939 81.03 643,227 60,746 87.91 5,340,402 −4,697,176
July 25,798 126.19 3,255,284 28,341 82.64 2,342,070 913,214
August 16,654 170.54 2,840,171 58,568 108.85 6,375,386 −3,535,215
September 8,116 181.73 1,474,866 9,370 82.20 770,252 704,614
Total 83,577 121.74 10,175,022 583,014 94.85 55,298,634 −45,123,612

Kosovo

Month by month, North Macedonia's side of this border.

Month Physical exports MWh €/MWh € Physical imports MWh €/MWh € Difference €
January 22,042 108.41 2,389,506 4,536 119.83 543,529 1,845,977
February 11,505 54.59 628,050 4,093 71.10 291,037 337,012
March 31,674 73.32 2,322,355 3,933 93.59 368,089 1,954,267
April 31,391 57.06 1,791,098 11,024 80.27 884,939 906,160
May 42,224 67.79 2,862,220 1,653 44.55 73,643 2,788,576
June 34,477 74.06 2,553,202 5,072 69.63 353,138 2,200,063
July 35,682 76.95 2,745,746 6,932 129.82 899,899 1,845,847
August 54,753 114.95 6,294,095 4,708 151.72 714,257 5,579,838
September 10,935 100.50 1,099,027 1,753 160.01 280,484 818,543
Total 274,684 82.59 22,685,298 43,704 100.88 4,409,014 18,276,284

Serbia

Month by month, North Macedonia's side of this border.

Month Physical exports MWh €/MWh € Physical imports MWh €/MWh € Difference €
January 35,986 119.20 4,289,462 639 93.57 59,770 4,229,692
February 25,874 66.75 1,727,053 246 26.63 6,548 1,720,505
March 31,102 85.18 2,649,211 1,827 92.95 169,844 2,479,367
April 21,866 69.72 1,524,411 6,423 77.16 495,590 1,028,821
May 40,883 81.12 3,316,274 278 28.48 7,925 3,308,349
June 28,180 82.81 2,333,481 2,483 64.27 159,598 2,173,883
July 15,991 88.46 1,414,538 4,980 123.02 612,628 801,910
August 29,217 118.67 3,467,228 4,816 152.87 736,245 2,730,983
September 5,405 103.38 558,703 1,352 158.41 214,178 344,525
Total 234,505 90.75 21,280,361 23,044 106.85 2,462,326 18,818,035

Bulgaria

Month by month, North Macedonia's side of this border.

Month Physical exports MWh €/MWh € Physical imports MWh €/MWh € Difference €
January 24,468 128.21 3,136,978 2,172 89.02 193,394 2,943,584
February 23,682 69.81 1,653,288 618 70.65 43,688 1,609,600
March 4,880 77.38 377,629 12,045 94.50 1,138,229 −760,599
April 1,971 44.79 88,295 24,182 92.06 2,226,239 −2,137,943
May 11,171 52.64 588,024 7,956 109.35 870,000 −281,976
June 5,902 32.61 192,436 16,228 121.42 1,970,436 −1,778,000
July 2,213 17.46 38,632 42,816 124.25 5,319,751 −5,281,118
August 1,065 43.77 46,628 36,332 154.12 5,599,551 −5,552,923
September 368 15.01 5,523 13,269 166.53 2,209,738 −2,204,215
Total 75,719 80.92 6,127,434 155,619 125.76 19,571,025 −13,443,591

Method

Not an invoice. Cross-border electricity is not sold country to country: the markets are coupled and the physical flow is the outcome of a shared auction. These figures value the measured flow at this zone's own day-ahead price, so both directions can be compared on the same scale.

Flows are measured, quarter-hour by quarter-hour; hourly borders are spread across the four quarters they cover, so every megawatt-hour meets the price that was actually in force. Energy entering the country is not the same as energy consumed here — some of it passes through.

A country between two others carries energy that is neither produced nor consumed there. Energy entering is not energy used.