Greece will again record one of the lowest wholesale electricity prices in Europe on Friday, as renewable energy generation remains high, more than meeting increased demand amid high temperatures.
By contrast, the heatwave has driven electricity prices significantly higher elsewhere in Europe, due not only to increased demand for air conditioning but also to reduced output from thermal power plants as a result of the high temperatures.

So far, volatility in European electricity markets has not significantly affected Greece, with Friday’s wholesale price just 1% higher than Thursday’s. The wholesale electricity price in Greece for Friday stands at 97 euros per megawatt-hour, compared with 125 euros in Bulgaria, 143 euros in Romania, 176 euros in Italy, 146 euros in France, 140 euros in Germany, 139 euros in Poland, 140 euros in Spain and 146 euros in Portugal.

Strong sunshine and winds are expected to keep the contribution of renewable energy sources to meeting electricity demand at high levels on Friday. The Greek electricity market will also remain a net exporter for another day.

According to data from the energy exchange, wind and solar power will cover 65.5% of demand on Friday, while hydropower will account for 5% and batteries for 0.6%. Natural gas-fired plants will cover 27.9% of demand, while lignite-fired generation will account for 0%.

Electricity exports are forecast to exceed 56 gigawatt-hours on Friday.