Greece entered the final week of May with one of the more balanced power markets in Southeast Europe. Its average day-ahead price fell by 0.7% to €86.77/MWh, making it the second-cheapest SEE market after Türkiye. Net electricity exports increased by 35.7% to 241 GWh.
Electricity demand did not decline during the same period. Consumption rose by 3.8%, adding 33 GWh week-on-week. Instead of tightening conditions, the higher load was met by improved supply conditions. Greece’s Week 22 performance was described as reflecting a system with diversified flexibility supplying neighbouring markets while keeping prices below regional premiums.
Renewables and hydro output support supply conditions
Total variable renewable generation increased by 9.3% to 653 GWh. Wind generation rose by 14.1%, while solar output increased by 5.6%. Hydropower also strengthened, climbing by 12.1% to 97 GWh. The combined effect supported higher export volumes without pushing prices up relative to regional levels.
Price levels remained below neighbouring markets during the week. Greece’s average day-ahead price was reported as well under Italy’s €123.58/MWh and Serbia’s €105.71/MWh. The export outcome was therefore linked to a generation mix that included stronger renewables, improved hydro output and LNG-backed system flexibility.
Export optionality linked to interconnections and dispatchable support
The export figure was framed as part of Greece’s shift from a domestic market role toward a regional function. The market is described as combining renewables, gas infrastructure, interconnections and trading optionality. In periods of favourable renewable output, Greece can supply neighbouring systems with surplus generation.
During tighter conditions, the LNG and gas-fired fleet can provide dispatchable support, though at higher marginal cost. This balance between renewable-driven surplus and gas-backed flexibility is presented as contributing to Greece’s value in Southeast European power flows.
Cross-border spreads and weekly price differentials
The week’s position also created export optionality into higher-priced neighbouring markets for traders. The spread to Italy was highlighted as an important reference point, with Italy clearing €36.81/MWh above Greece on a weekly average basis. Such spreads were associated with where cross-border capacity, forecasting and intraday positioning are relevant.
Overall, Week 22 data showed an average price of €86.77/MWh, alongside 241 GWh of net exports and 653 GWh of variable renewable generation. Greece was therefore described as increasingly positioned for balancing-related flows within the Southeast European power market.
