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3 clusters · 18 sources · 30 days · First seen · Last updated

Electricity price surges in Southeast Europe amid heat

Overview

The Greek electricity market, previously characterized by relatively low wholesale prices driven by high renewable energy contributions, is facing new volatility due to extreme weather. While Greece had recently maintained prices around €96–€100/MWh, extreme heatwaves and droughts have triggered a record surge in electricity prices across Southeast Europe.

In markets including Greece, Bulgaria, Hungary, and Serbia, daily prices have climbed from typical levels of €80–€100 to over €300 or €400 per megawatt-hour. During peak periods, prices in Southeast Europe have exceeded €500/MWh. This price shock is attributed to a massive increase in demand for air conditioning and reduced hydroelectric production caused by low river levels.

Although high solar energy production has helped mitigate some daytime price pressures, experts highlight that limited grid connectivity between Central and Southeast Europe continues to hinder the transfer of cheaper renewable energy to deficit regions. There is an increasing emphasis on the necessity of battery storage capacity to manage evening demand peaks during these periods of extreme heat.

Entities

WWF Greece · Hellenic Energy and Climate Observatory (HEPI) · Hellenic Cables · European Union · Greece

Timeline

  1. 4 days ago

    [BUSINESS] 16 sources
    Greece becomes major electricity exporter to Central Europe

    Greece is seeing record electricity exports to Central Europe due to high renewable energy production, maintaining low wholesale prices despite rising energy costs across the rest of the EU.

  2. 13 days ago

    [BUSINESS] 2 sources
    Greece's power sector faces soaring electricity prices and scant underground network

    Greece's electricity costs rank among the EU's highest while just 2% of its 250,000‑km grid is underground, heightening consumer burden and wildfire risk despite a €350‑€377 million upgrade plan.

  3. about 1 month ago

    [BUSINESS] 2 sources
    Greece’s 2025 electricity providers show mixed price rankings

    RAEE’s 2025 report finds Greece’s electricity prices differ by tariff type; Protergia’s fixed plan is cheapest annually for average households, Irona’s variable plan had the lowest monthly rate, and ELINoil is

Sources

businessdaily.gr · dimokratia.gr · flash.gr · fortunegreece.com · gargalianoionline.gr · lawforall.co.za · makthes.gr · mediaweb.co.za · mononews.gr · newsbeast.gr · newsbomb.gr · powergame.gr · sbctv.gr · thefaq.gr · thessnews.gr · vathikokkino.gr · vita.gr · www2.iefimerida.gr

This summary has been updated 4 times: see revision history