Greece wholesale electricity prices rise to 160 euros per MWh

Wholesale electricity prices in Greece have entered an upward trend, with the price per megawatt-hour reaching approximately 159.88 euros on Wednesday, August 19. This represents a 4.01% increase compared to the previous day.

The price fluctuation is attributed to a shift in the energy mix. For the first time in a significant period, natural gas has overtaken renewable energy sources as the primary contributor, accounting for 40.01% of the mix, followed closely by renewables at 39.87%. Other contributors include imports (7.39%), hydroelectric power (6.02%), and lignite (6.02%).

Despite the increase, Greek wholesale electricity prices remain among the lowest in Europe compared to nations such as Italy, Germany, and France. This trend is also influenced by rising natural gas prices in the European market, driven by geopolitical uncertainty in the Middle East.