Reduction in gas and power rates in Greece
The Institute for Energy in Southeastern Europe (IENE) recorded a de-escalation of natural gas and electricity prices in August compared to July, but also an increase in the participation of RES in the energy mix.
According to the monthly report of the institute, in August there was a reduction in the prices of electricity and gas: The average market clearing price (MTP) was reduced by 3% compared to July at 109.33 euros per megawatt-hour and by 75% compared to August 2022.
The average price of gas was €28.1/MWh, from €30.6 in July 2023, and reduced by 85% compared to August 2022.
Regarding electricity demand, it was 5,061,690 MWh in August – i.e. reduced compared to July.
The use of gas in power generation in August was also down, accounting for 39% of the fuel mix, compared to the previous month, when it stood at 41%.
Also, energy production from RES and natural gas in August amounted to 1,926,532 MWh and 1,889,188 MWh respectively, while hydropower was down 376,199 MWh.
The fuel mix in power generation was characterized by a strong participation of RES and natural gas, contributing 40% and 39% respectively.
Notably the share of gas in the fuel mix decreased by 7% compared to August 2022, while the contribution of RES increased by 11%.
