Greece electricity prices rise as wholesale costs jump

Electricity prices in Greece are seeing an upward trend for September following a significant rise in the wholesale market during August. The wholesale price of electricity reached an average of 133.40 euros/MWh in August, a 21.3% increase compared to July. This surge was driven by high demand for air conditioning, low wind energy contributions, and increased natural gas prices due to conflicts in the Middle East.

As a result, “green” variable tariffs have increased by approximately 9% on average, with minimum prices rising from 13.8 cents/kWh in August to 14.7 cents/kWh in September. PPC (DEI) has seen its rates for consumption exceeding 200 kWh rise by about 20%, from 15.4 to 18.5 cents/kWh. ELIN OIL has also implemented a 20% increase on its special program.

In contrast, PPC’s fixed “blue” tariff, specifically the myHome Online plan, has become significantly more competitive. The price for this plan has been reduced to 11.50 cents/kWh for September, with a monthly fixed fee of 3.50 euros. This creates a notable price gap between fixed and variable options, particularly for households with high energy consumption.