Wholesale electricity price falls sharply

Wholesale electricity price falls sharply

Wholesale electricity prices in Greece have fallen below 100 euros per MWh in Greece for the first time in 18 months.

Electricity prices for Wednesday were set at 86.77 euros/MWh at the Hellenic Energy Exchange, falling below the 100-euro barrier for the first time since August 2021.

Market analysts attributed this development to the increase of renewable sources in the energy mix (together with hydroelectric their share surpassed 61% of the total), good weather conditions and a sharp decline in natural gas prices in global markets, currently at 55 euros/MWh, among other factors.

Electricity prices fell by 35% for the second day in a row (from 204.4 euros on Monday, to 132.48 on Tuesday and 86.77 euros on Wednesday).

This price is one of the lowest in Europe. [AMNA]

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