Expensive MWh, cheap KWh

Greece was among the cheapest markets in Europe in terms of the price of electricity paid by households in the fourth quarter of 2022, while in the same period it had the most expensive wholesale markets. 

The significant discrepancy between the wholesale and retail price of electricity was a result of the generous subsidies which were largely covered by the producers' surpluses in the wholesale market, with the imposition of the cap from July 2022 onward.

According to the European Union report on the European electricity market in the fourth quarter of 2022, the average price of electricity at the European level increased by 21% to 29.5 cents/kWh compared to the corresponding quarter of 2021. Greek households paid well below the European average per kilowatt hour, at 17.07 cents. The lowest electricity prices were paid by households in the Netherlands (8.4 cents/kWh)...