Greek power rates soar on gas concerns

Greek power rates soar on gas concerns

Electricity prices jumped in Greece on Tuesday, moving in line with significant increases recorded in other European markets.

Wednesday’s electricity price in Greece rose to 312.67 euros per megawatt-hour, while in Germany the price was €323.34/MWh, in France €383.14/MWh, in Italy €369.07/MWh and in Austria €343.94/MWh.

Traders attributed this development to concern over natural gas flows from Russia, while an expected heat wave in country is an additional factor pushing prices higher.

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