ECONOMY

Wholesale power cost advance

wholesale-power-cost-advance

Wholesale electricity rates jumped 10% in December from the previous month, while dropping just 1% from a year earlier, according to the monthly analysis of the local energy market by the Institute of Energy for Southeast Europe (IENE) that showed the average rate at 58.93 euros per megawatt-hour.

Demand rose in December for the second month in a row, with the country in lockdown since November 7, to reach 4,366 megawatt hours. The average grid load rose 6% on a monthly basis to 5,869 megawatts, the same as December 2019.

The fuel mix last month showed the supremacy of natural gas-powered production, as it accounted for 46%. Renewable energy sources accounted for 30%, including hydroelectric plants, wind power, photovoltaics and biomass. Lignite-fired units produced only 18% of the power consumed last month, while 6% was imported from Bulgaria, Italy, North Macedonia, Turkey and Albania – the countries to which Greece also exported power when they required it.

December’s power exports amounted to 473,951 MWh, with 31% going to North Macedonia, 30% to Albania, 21% to Italy, 16% to Bulgaria and 2% to Turkey.