Wholesale power prices highest in EU

Greece has the highest wholesale electricity rates in the European Union according to European Commission data for the last quarter of 2019.

Compared to countries in Central Europe, the Greek wholesale market is 50 percent more expensive, while, according to the same data, Greece, Bulgaria and Romania are the only EU states that saw a rise in rates during the October-December 2019 period.

Nevertheless, even the Bulgarian and Romanian markets had an average rate much lower than Greece’s 59.5 euros per megawatt-hour.

The data are particularly disappointing concerning the competitiveness of Greek exporting industries, especially energy-intensive ones that have to compete with rivals in countries where power costs almost half the amount it does in Greece.