Greece electricity exports driven by natural gas increase consumer costs

Greece has transitioned into a net exporter of electricity, achieving this status in 2024 ahead of official projections. Between January 2024 and June 2026, the electricity trade balance reached a cumulative 821.2 million euros, providing significant revenue for producers.

However, an analysis by Green Tank indicates that the reliance on natural gas to meet export demand is driving up domestic wholesale prices. During periods of net exportation between January 2024 and July 2026, the average share of natural gas in the electricity generation mix was 35.8%. This reliance on gas to supply neighboring countries puts upward pressure on the Day-Ahead Market, ultimately increasing costs for Greek consumers.

The report suggests that if the electricity intended for export had been produced using additional renewable energy sources instead of natural gas, Greek consumers could have benefited by more than 1 billion euros, while still maintaining a strongly positive trade balance.