Greece was one of the few SEE electricity markets to record a weekly price increase in Week 24. The Greek day-ahead average rose 2.6% to €91.53/MWh, while most neighbouring markets moved lower. The rise came as demand strengthened and the generation mix delivered a more uneven renewable signal than elsewhere in the region.
Greek electricity demand increased by 55.0 GWh, or 5.8%, reaching 1.01 TWh. This was one of the strongest percentage increases in the SEE group and reflected the early summer shift toward higher cooling demand. In many weeks, such a rise would have lifted thermal generation, but Greece’s supply mix moved differently.
Solar output increased strongly, rising 22.8%, but wind generation fell 31.4%. The result was only a 1.9% increase in total variable renewable generation. Hydro output also declined, falling 17.3%, reducing another source of flexible low-marginal-cost supply.
Despite stronger demand and weaker hydro, Greek thermal generation fell 6.3%. Lower lignite and gas output more than offset the demand increase, making Greece unusual in the regional comparison. Its trade position also improved sharply. Greece more than doubled its net export position, reducing net imports from 169.7 GWh to 61.9 GWh, a fall of 63.6%.
The Greek market therefore showed a more complex price pattern than a simple demand-led increase. Stronger summer load, weaker wind and lower hydro helped support prices, while solar gains and improved trade flows prevented a sharper move upward. Greece remained below the high-price levels of Italy and Hungary, but it did not participate in the broader regional decline.
For traders, Greece’s Week 24 profile underlines the importance of hourly renewable composition. Solar strength alone cannot fully replace wind and hydro flexibility, especially when demand rises and evening peaks become more expensive.
