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Economy

RAE: Natural Gas Import Prices Lower in Greece

February 22, 2022

ATHENS – The prices of natural gas imports to Greece during the energy crisis were significantly lower in relation to the prices in other European markets, according to data published by the Regulatory Authority for Energy (RAE) on Tuesday.

Specifically, the average price of natural gas imports to Greece per MWh (megawatt hour) was 37.7 euros in September, 54.6 euros in October, 70.3 euros in November, 65.3 euros in December and 98.3 euros in January.

During the same period, natural gas prices in the European Stock Exchanges went from levels below 10 Euro per MWh at the end of 2020 to 100 Euro per MWh after the autumn of 2021 and reached 145 Euro per MWh at the end of 2021.

The trade agreements that allowed lower prices, as mentioned by market sources, were the basis on which DEPA’s discounts to its customers were based. These discounts – in addition to government subsidies – amounted to 16 pct of the wholesale price for October and November and 40 pct for December (estimated at 11 and 34 euros per MWh, respectively) and 20 euros per MWh for January and in February.

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