The average spot price of electricity in Greece continued to fall in the sixth week and amounted to EUR 157.75 per MWh. That is about 4 percent less than the previous week. The highest average daily price last week was reached on Thursday (February 16) – 172.01 euros per MWh.
Electricity prices in Europe last week ranged from 127 euros per MWh to 158 euros per MWh, while on the first day of this week (February 20), the spot price was from 61 euros per MWh to 160 euros per MWh.
Despite the low production of hydropower and renewable sources, the weekly price on the Greek stock exchange fell further, as increased imports and low consumption due to relatively warm weather influenced the price drop.
Domestic demand for electricity fell in the sixth week below 1 TWh, to 992 GWh. The total weekly volume on the Greek energy exchange was 1,041 GWh, taking into account export flows (49 GWh).
RES units, with an average daily production of 41 GWh, had up to 30 shares in the country’s total energy mix. The weekly production of RES amounted to 288 GWh, which represents a decrease of 26 percent on a weekly basis.
Hydropower plants covered 2 percent of demand, with only 23 GWh (-64 percent compared to the previous week). Natural gas power plants achieved weekly production of 263 GWh, covering 28 percent of demand, while lignite-based production with 211 GWh covered 22 percent of electricity demand.
As for electricity demand, it peaked at 151,406 MWh last Wednesday (February 15), with a weekly low recorded on Sunday (February 19) of 116,808 MWh.
The total demand in the sixth week was 992,217 MWh, which is almost 8 percent less compared to the previous week, when it was 1,075,876 MWh.
Last week, 60 percent of electricity demand was at low voltage (over 594 GWh), including households, 17 percent at medium voltage (around 171 GWh), 15 percent at high voltage, i.e. in energy-intensive industry (over 145 GWh), 6 percent (about 58 GWh) in the Crete system, while losses amounted to 2 percent.
Net imports covered 18 percent of Greece’s electricity demand in the sixth week. It increased from 12 percent in the fifth week. Greek net import in the fifth week was 168,634 MWh.
