Greece electricity prices rise as wholesale costs surge in September

Electricity wholesale prices in Greece saw a significant surge in late summer and early September, defying expectations of a seasonal decline. After closing August with an average wholesale price of 133.4 euro/MWh—a 21% increase from July—prices climbed toward 200 euro/MWh in the first days of September.

Retail electricity providers have responded with varying strategies for September. While wholesale costs rose sharply, providers have partially absorbed the impact, leading to a diverse landscape of consumer tariffs. For 'green' (variable) tariffs, retail prices have increased by approximately 8% on average, reaching about 20.73 cents per kWh. However, individual provider rates vary widely, ranging from 14.7 to 21.7 cents per kWh.

In contrast, the 'blue' (fixed) tariff market shows increased competition. Some providers, such as DEI, have adjusted rates, while others like Protergia and Heron have maintained stability. Notably, Zenith announced an 18.2% reduction in its charges for certain segments. Consumers are advised to compare not only the per-kWh rate but also fixed monthly fees and contract terms to manage rising energy costs.