2024-05-07 20:29:49
One of the most expensive markets in Europe remains the wholesale electricity market of Greece even after the energy crisis. Both in 2023 and in the first quarter of 2024, the average wholesale electricity price ranks our country in the 4th most expensive market in Europe. In 2023, the average price of a megawatt hour in the Greek market was 119.11 euros, when the prices in the EU markets averaged at 98.39 euros. Higher prices than Greece were in Italy (127.24 euros/MWh), Malta (126.11 euros/MWh) and Ireland (121.92 euros/MWh).
The picture regarding the position of the Greek market on the European map does not seem to change in 2024. With the price of a megawatt hour from the beginning of the year until today (May 3) at 73.20 euros, Greece is still the fourth most expensive market of Europe. The first place is consistently held by Italy with a megawatt hour price of 90.61 euros, followed by Ireland (90.38 euros) and Poland (80.84 euros). A long distance separates the Greek market from Germany (65.71 euros/MWh), France (53.48 euros/MWh) and even more from Spain and Portugal, where the high production of photovoltaics has driven prices slightly higher from 36 euros/MWh. The low prices and the interconnected market of France are due to the photovoltaics of the Iberian Peninsula, besides of course its cheap domestic nuclear production.
In Greece, the high production of RES, which set a record in 2023 covering 57% of the electricity generation mix, did not have the corresponding imprint on electricity prices. It is noteworthy that today (Good Friday) with the participation of RES at 61.3%, the average wholesale price in Greece is at 59.16 euros/MWh, when in countries with also high RES production such as Spain and Portugal the prices are slightly above 26 euros/MWh, in France below 25 euros/MWh and in the Nordic countries well below 50 euros/MWh. The high participation of natural gas in the electricity generation mix in the domestic market is not a sufficient interpretation condition for the formation of high prices, especially in conditions of significant de-escalation of the price of imported fuel.
Peculiar characteristics have been observed in the last months in the retail market as well, with the result that even any de-escalation of the wholesale price is not transferred to consumers. Indicative of this picture is the policy followed by almost all providers in the April invoices. While wholesale electricity fell in March to 67.5 euros/MWh from 73.61 euros/MWh in February, the April green tariffs, in which more than 75% of consumers are, remained at the levels of March with a marginal average increase to 10.8 min/kWh from 10.5 min/kWh in March. Providers have agreed(?) not to pass on to tariffs the de-escalation of wholesale costs to offset losses from the cost of increased electricity theft.
May’s green tariffs do not show any significant variation.
Following this tariff policy in May, the green tariffs of the providers do not show any significant differentiation. They range from 9.5 to 10.9 cents/KWh. At monthly level they show an average decrease of 5% when the wholesale price of electricity fell by 11% in April compared to March (60.11 euros/MWh against 67.5 euros/MWh). The average price of green tariffs for May consumption is 10.3 cents/KWh from 10.8 cents/KWh in April. However, the reduction in some tariffs reached close to 11% and even 12%.
PPC’s green tariff for consumptions up to 500 kilowatt-hours and daytime charges decreased for May to 10.656 cents per kilowatt-hour from 10.861 cents in April. For consumptions above 500 kilowatt hours, the charge is 11.736 cents per kilowatt hour from 11.881 cents in April. PPC reduced the discount in May to 10% from 15% in April, thus further limiting the reduction in the retail price.
Protergia reduced its green tariff price in May to 10.601 cents/kWh from 11.62 cents/kWh in April with a consistency discount. Without consistency discount the price in May is 17.6 cents/kWh from 18.6 cents/kWh in April. In May, Elpedison offers the green tariff at 9.96 cents/kilowatt hour for the first 100 kilowatt hours and at 10.5 cents for the rest. HERON in the special tariff for May has a price of 10.11 cents/kilowatt hour in the green tariff with a 12% consistency discount.
NRG for May gives the green tariff at 10.96 cents/kWh with a consistency rebate slightly increased from the previous month which was 10.7 cents/kWh. Natural Gas offers a consistently discounted price for May at 10.954 cents/kWh, up 3% from April, and Zenith at 10.267 cents/kWh, down 10% from April.
Volton’s final price for the green tariff in May was 10.17 cents/kWh, down from 10.54 cents in April. Volterra’s green tariff in May is at the same levels as in April of 9.9 cents/kilowatt hour. Elin’s tariff with a price of 9.5 cents/kilowatt hour remains the cheapest on the market in May even though it has increased by 5% compared to April.
Source kathimerini.gr