Power rate below 100 euros/MWh for the first time since summer 2021

Wholesale electricity prices have fallen below 100 euros per megawatt-hour in Greece for the first time in nearly 18 months.

The electricity rate for Wednesday has been set at €86.77/MWh in the Greek Energy Exchange, falling below the €100 barrier for the first time since August 2021.

Market analysts attributed this development to a series of factors such as the increase of renewable sources in the energy mix (together with hydroelectric, their share surpassed 61% of the total), good weather conditions and a sharp decline in natural gas prices in global markets, currently at €55 euros/MWh. Rates fell by 35% for the second day in a row.