Grčija ostaja draga pri veleprodajni ceni električne energije

The Greek electricity market has remained stable, maintaining its position among the most expensive in Europe despite recent fluctuations in energy prices across the continent. According to reports from *Kathimerini*, the average price of electricity in Greece dropped slightly today to 145.51 euros per megawatt-hour, marking a 14% decrease compared to the previous day’s rate of 169.11 euros. This decline follows a period of rising prices driven by extreme heatwaves in Central and Western Europe, which significantly increased demand and pushed prices to record levels throughout the continent. Despite this correction, Greece remains one of the most expensive markets in Europe, alongside Bulgaria and Romania, where prices hover around 145–147 euros per megawatt-hour. In contrast, markets in Western Europe have seen more pronounced declines, with Germany reporting an average price of 73.31 euros per megawatt-hour—a daily drop exceeding 50%—and France recording 56.83 euros, down nearly 42%.

The situation highlights the vulnerability of Southern and Eastern European countries during periods of extreme weather. The power systems of Romania and Hungary faced significant pressure, transmitting these challenges further south into Greece. Although the easing of demand in Western Europe has somewhat alleviated overall pressure on the European market, prices in Southern and Eastern Europe have not followed a similar downward trend. However, the current decline serves as a buffer against ongoing pressures caused by high temperatures and increased use of air conditioning. These factors continue to influence the dynamics of the wholesale electricity market, affecting both supply and demand.

In terms of production mix, renewable energy sources contributed just over 40% to the total electricity generation mix, while natural gas accounted for approximately 39.2%. Combined with heightened demand due to air conditioning usage, these conditions limited the extent of the price correction in the wholesale market. On a monthly basis, June closed with an average wholesale price of 92.93 euros per megawatt-hour, representing a 4.4% increase compared to May. July began with an average price of 157.31 euros per megawatt-hour in the first two days, setting the stage for potentially higher retail charges.

Meanwhile, Hellenic Energy Distribution Company (ΔΕΗ) absorbed the full increase in wholesale prices within its green pricing tariffs for July. As the largest provider in the market, ΔΕΗ issued a message of restraint, ensuring that all its tariff rates remain unchanged. Specifically, the variable tariff G1 continues to charge 13.8 cents per kilowatt-hour for monthly consumption up to 200 kilowatt-hours and 15.39 cents per kilowatt-hour for higher consumption levels. Consumers should be aware that once they exceed the 200-kilowatt-hour threshold, their entire monthly consumption will be billed under the second tariff scale, starting from the first kilowatt-hour. Until late yesterday evening, it was anticipated that ΔΕΗ would announce the July tariffs, along with other electricity providers, but no official announcement has yet been made.

At the same time, the Greek government has announced plans to accelerate the development of energy storage systems, aiming to reach an installed capacity of 3 gigawatts by 2028. This initiative comes amid rapid growth in solar photovoltaic installations, which has created new challenges for grid stability. The Ministry of Environment and Energy, represented by Deputy Minister Nikos Tsafos, presented the government's strategy to the parliament, emphasizing the need for greater investment in storage solutions. Currently, about 530 megawatts of storage projects are already connected to the National Grid (ΑΔΜΗΕ), with nearly 100 megawatts connected to the regional grid (ΔΕΔΔΗΕ). The plan aims to bring the total installed capacity close to 1 gigawatt by year-end and 1.5 gigawatts by mid-2027.

Tsafos linked the need for expanded storage capacity to the explosive growth of solar installations over the past few years, defending the government’s energy policy. He noted that between 2015 and 2019, the country "abandoned" solar power, but since 2019, it has accelerated its expansion, leading Greece to rank third globally in the penetration of solar power as a percentage of domestic electricity production. However, this rapid growth has also introduced new challenges, as solar output increases faster than storage capacity. This imbalance leads to periods of reduced generation and even negative electricity prices, a phenomenon observed in all markets with high renewable energy penetration. In Greece, such periods account for roughly 12.5% of the time, compared to 17.5% in Spain, and percentages ranging from 18% to 30% in other European markets.

These developments underscore the complex interplay between energy production, consumption patterns, and market dynamics in Greece. While the immediate outlook suggests some stabilization in wholesale prices, long-term trends indicate a growing reliance on storage technologies and flexible energy management strategies to address the challenges posed by increasing renewable energy integration. As the summer progresses, the impact of weather conditions, particularly water availability and wind patterns, will likely play a crucial role in shaping future price movements and market behavior.