Greece faces rising energy and fuel costs for small businesses

Rising energy and fuel costs are placing significant pressure on small businesses and consumer prices in Greece. According to the Institute of Small Enterprises (IME) of GSVEE, a survey for the first half of 2026 shows that 73.3% of small businesses are paying more for electricity than in 2025, while 73.2% report increased fuel costs. Average annual increases have reached 26% for electricity and 27.8% for fuel.

These rising operational costs are being passed on to consumers, with 40.3% of businesses having already increased prices in the first half of the year. The Greek government is considering a triple intervention strategy targeting electricity, fuel, and basic goods to curb inflation. This comes as natural gas prices surge, with market prices rising 110% annually, driving up wholesale electricity costs.

The volatility is linked to broader European trends, including high natural gas prices and seasonal demand shifts. While renewable energy production helps mitigate some costs, it remains insufficient to fully absorb the external price pressures caused by international market fluctuations.