Greece was among the few Southeast European electricity markets where power prices increased in Week 24, while most neighbouring systems saw softer pricing. The Greek day-ahead average rose by 2.6% to €91.53/MWh. The move coincided with higher demand and a renewable generation profile that differed from the regional average.
Electricity consumption in Greece climbed by 55.0 GWh, or 5.8%, to 1.01 TWh. The increase was linked mainly to early summer cooling needs. Despite the load growth, the power system’s response was uneven as renewable output trends diverged.
Solar, wind and hydropower shifts affect variable supply
Solar generation increased by 22.8%, while wind output fell by 31.4%. Together, these changes left overall variable renewable generation up by only 1.9%. That limited the extent to which variable renewables could offset the rise in consumption.
Hydropower output declined by 17.3%, reducing available low-cost flexible generation. With hydrology weaker and wind lower, supply conditions tightened relative to the demand increase. This combination fed into the pricing outcome seen in the day-ahead market.
Thermal generation declines despite higher load
Greek thermal generation decreased by 6.3% even as demand rose. Lower lignite and gas production outweighed any need to cover additional electricity consumption. As a result, Greece’s generation mix moved differently from other SEE markets during the same week.
The divergence left Greece as an outlier in regional terms. Most Southeast European systems increased thermal output in response to weaker hydro conditions and stronger load. In Greece, that pattern did not hold for thermal generation over Week 24.
Net imports fall sharply as balancing improves
Greece also changed its external trade position during Week 24. Net imports dropped from 169.7 GWh to 61.9 GWh, down by 63.6%. The reduction indicated improved balancing supported by domestic generation adjustments and cross-border flows.
The price movement in Greece therefore reflected multiple interacting factors rather than demand pressure alone. Rising consumption alongside weaker wind supported upward movement in day-ahead prices, while stronger solar output and improved trade balance helped moderate volatility across the week.
The overall pattern highlights how renewable timing and structure can influence market outcomes alongside load changes. In Greece’s case, the balance between solar, wind, and hydro availability corresponded with the observed shift in day-ahead pricing during Week 24.