June 20, 2024
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Greece, Increase in spot prices in the ninth week by 5 percent, to 152 euros per MWh

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Wholesale electricity prices in Greece rose moderately during the period from February 27 to March 5 (ninth week). The average market clearing price increased by 5 percent compared to the previous week, to 151.95 euros per MWh, while the maximum and minimum prices were 218.35 and 80.16 euros per MWh, respectively.

The highest average price in the past week was recorded on March 2, when it reached 160.60 euros per MWh.

In the same period, wholesale electricity prices in Europe ranged from 136 to 195 euros per MWh, while on Monday, March 6, they were between 141 and 167 euros per MWh.

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Demand for electricity in Greece remained relatively low for this time of year, while lower production of renewable energy sources and hydroelectric power plants led to a slight increase in prices on the Greek energy exchange, according to an analysis by the Energy Institute for Southeast Europe, IENE.

Greece’s renewable power plants produced around 36 GWh per day and their share of the energy mix reached 29 percent last week, according to official data. RES production amounted to 251 GWh in this period, which is 11 percent less compared to the previous week.

Hydropower plants covered 2 percent of total consumption, with only 16 GWh delivered. That is 14 percent less compared to the eighth week. In the same period, natural gas-fired thermal power plants produced 286 GWh, covering 33 percent of demand, while lignite-fired power plants produced 145 GWh, covering 17 percent of demand.

Demand for electricity remained virtually unchanged during the ninth week – 897,131 MWh, compared to 897,306 in the eighth week. The highest consumption was achieved on Thursday, March 2, when it amounted to 138,128 MWh, while the lowest level of consumption was recorded on February 27 – 107,471 MWh.

Low-voltage consumers, including households, had a 56 percent share in total electricity consumption during the past week, medium-voltage consumers had a 19 percent share, while the share of high-voltage consumers reached 17 percent. Five percent of the total demand was related to the network in Crete, and electricity losses of 3 percent were also recorded.

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