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Electricity Prices Fall Sharply in Greece

January 17, 2023

ATHENS – Wholesale electricity prices fell below 100 euros/MWh in Greece for the first time in 18 months. Electricity prices for Wednesday were set at 86.77 euros/MWh in the Greek Energy Exchange, falling below the 100-euro barrier for the first time since August 2021.

Market analysts attributed this development to a series of factors such as the increase of renewable sources in the energy mix (together with hydroelectric their share surpassed 61% of the total), good weather conditions and a sharp decline in natural gas prices in global markets, currently at 55 euros/MWh.

Electricity prices fell by 35% for the second day in a row (from 204.4 euros on Monday, to 132.48 on Tuesday and 86.77 euros on Wednesday). This price is one of the lowest in Europe.

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