MWH

Greece remained among the most expensive wholesale electricity markets in Europe in 2022, a year when the average price of electricity increased by 141% compared to 2021.

In the same year, the cost of natural gas imports more than doubled compared to 2021, while it almost quintupled compared to 2018.

The price of wholesale electricity will drop to 58.44 euros per megawatt-hour on Thursday at the Hellenic Energy Exchange, it was reported on Wednesday.

This rate is 33% lower than Wednesday's set rate, a continuous reduction since wholesale electricity prices dropped 75% last Saturday, that is from €233.81/MWh to €58.55/MWh.

Wholesale electricity prices have fallen below 100 euros per megawatt-hour in Greece for the first time in nearly 18 months.

The electricity rate for Wednesday has been set at €86.77/MWh in the Greek Energy Exchange, falling below the €100 barrier for the first time since August 2021.

For the second week in a row, Greece stands on the European map of wholesale electricity markets as the only country that does not reflect the significant de-escalation of the gas price at the Dutch TTF hub, which has returned to the levels before the Russian invasion of Ukraine.

The average spot electricity price on the OPCOM energy exchange hit on Monday 245 lei per MWh, twice as high as the 112 lei per MWh recorded two weeks ago, the exchange operator announced on its website.

At peak demand between 9:00 and 22:00 hrs, electricity due for delivery on Monday May 21 is priced at an average of 277 lei per MWh, with a high of 343 lei at 21:00 hrs.