Greece became a net exporter of electricity last year, but at a cost for Greek energy consumers.
Data from the Independent Power Transmission Operator (ADMIE) show that exports led to an increase in prices on the wholesale market and, at the same time, to an increase in imported natural gas for electricity generation needed in order to meet demand from neighboring countries.
Essentially, what occurred last year was that Greek consumers paid high electricity prices to strengthen the electricity systems of neighboring countries.
For example, In November 2024, when Greece had the highest monthly net exports, the highest average monthly price of the year was also recorded on the wholesale market (at 137.4 euros per megawatt-hour).
The advantage of Greece’s increased production from renewable energy sources (they covered 50.2% of demand in 2024 together with hydroelectric power) was not translated into lower prices.
As noted by the Minister of Environment and Energy Thodoros Skylakakis, the non-completion of the European electricity system keeps prices high in southeastern Europe.