Greece becomes major electricity exporter to Central Europe

Greece has emerged as a significant electricity exporter to Central and Southeastern Europe, recording historic net export levels reaching up to 54 GWh. This shift is driven by high production from renewable energy sources, particularly wind and solar, which are expected to cover approximately 65-70% of the domestic load.

While heatwaves and droughts have caused wholesale electricity prices to surge across much of Europe—with countries like Italy, Austria, and Romania seeing prices well above 140 EUR/MWh—Greece has maintained some of the lowest wholesale prices in the EU, hovering around 96-100 EUR/MWh. The country is utilizing its interconnection with Bulgaria as a primary gateway to supply energy to Hungary and Romania, which are currently facing energy price crises due to reduced nuclear output.

In related infrastructure developments, Hellenic Cables, through its subsidiary Fulgor, has secured an EPCI contract from the Independent Power Transmission Operator (IPTO/ADMIE) for the Corinth-Kos HVDC interconnection project. Valued at approximately 1.5 billion euros, the project involves the installation of 1,260 km of submarine and 30 km of underground cables, aiming for completion by 2030 to enhance energy security and support the phase-out of fossil fuel plants.