Greece’s wholesale electricity prices were ranked fourth highest in Europe during the year’s first eight-month period, behind those of Italy, Malta and Ireland, according to data presented to the Greek Parliament by RAAEY, the Regulatory Authority for Waste, Energy and Water.
The authority primarily attributed Greece’s high European electricity price ranking to lofty prices recorded in January, when they peaked at 201 euros per MW/h as a result of a delayed implementation of natural gas prices in the Greek market, in contrast to other parts of Europe.
Subsequently, a natural gas price peak to 119 euros per MWh in December, 2022 made immediate impact on wholesale electricity prices in other parts of Europe but did not influence electricity prices in Greece until a month later, when prices had begun falling elsewhere on the continent.
Wholesale electricity prices in Greece were Europe’s highest in January. However, several months later, in June and July, the setting had changed drastically, with Greek wholesale electricity prices ranked 15th among 32 European countries.
