Greece, weather conditions "sink" energy prices - Producers pay for supply, renewable resources are wasted
For the fifth consecutive day, power producers in Greece have paid to supply the electricity grid during certain hours of the day. The main beneficiaries of this situation are suppliers and large industries.
These unusual circumstances have resulted from a combination of hot sun, strong winds and low energy demand at the height of the holiday season. Last weekend, the negative payment lasted for eight hours each day, with the price of a megawatt-hour (MWh) falling to -12.92 euros.
On the contrary, suppliers and heavy industries are being paid to buy and consume energy. While renewable energy producers do not have predetermined prices and have suffered a significant decline in revenues.
Most households and small and medium-sized enterprises that do not have smart meters will not benefit immediately from this situation, but will see an average price reduction per MWh of about 50%. The savings that consumers will feel will depend on the willingness of producers to share a portion of the profits.
Renewable energy sources have contributed 60% to 66% of the total electricity supply and the average price per MWh has moved from 53 euros on Sunday to 74 euros on Tuesday.
However, a large portion of renewable energy is being wasted, as storage projects have not yet been implemented and are encountering obstacles.
So far this year, 352 GWh of electricity from renewable sources have been wasted, or 12.3% of total production.
AI, Europe's last "hope" - New technology can reduce the gap with the US
Integrating artificial intelligence is key to closing the productivity gap between Europe and the United States, according to technology experts. They point......
Europe is "crushed" by fires - Extreme temperatures fuel the rapid spread of flames
Firefighters in Spain, Portugal, Greece, Turkey and the Balkans are battling wildfires as another heatwave has pushed temperatures above 40°C in parts of......
Critical situation due to fires - Preventing the spread of flames in residential areas in Delvina
After a difficult night where fires approached the town of Delvina, the situation appears calmer this morning. Firefighters and army forces have managed to......
Kukes challenges the demographic trend, records an increase in births/ In the second quarter of the year, the natural increase results in favor of new lives
Albania's population has recorded a positive natural increase in the second quarter of 2025, with 48 more births than deaths nationally, a positive......
Tirana-Durrës highway, under reconstruction - The winner for the Vorë-Dajlanit axis tender is announced, offer 50.8 million lekë
The Tirana - Durrës highway will undergo reconstruction. The Albanian Road Authority has announced the winning company for emergency interventions to repair......
Heat, energy demand, CO2 emissions and costs - Analysis in "Ilsole24ore": Here is the impact of air conditioners in 25 countries
Having an air conditioner increases a household's electricity consumption by an average of 36–37%, with peaks of up to 57% in the hottest regions. A silent......
Albanians are "moving away" from the euro - BoA: Deeuroization package has an effect on reducing foreign currency loans and deposits
Albania has made strides towards reducing the use of the euro and increasing the use of the lek. This is according to the Bank of Albania in its latest......
150 thousand euros in financing for solar greenhouses - Investment scheme/ From hail nets to agrotourism. Criteria
Farmers and agribusinesses have until September 30 to apply for financing through the Agricultural Investment Scheme. The Ministry of Agriculture has issued......
