Greece exports 1/3 of energy to neighboring countries - Up to 2GW, as government faces price hikes
Greece has become a net exporter of electricity, providing up to a third of its daily output to neighboring countries.
According to the Ministry of Environment and Energy, Greek electricity exports now regularly reach 2 GW, out of a total output of around 6 GW. This is a big change from previous years, when the country was a net importer.
At 20:00 on December 9, Greece was exporting 159 MW to Albania, 533 MW to North Macedonia, 496 MW to Bulgaria, 39 MW to Turkey and 510 MW to Italy. According to official data from the Independent Power Transmission Operator, total exports reached 1,737 MW within the hour.
This comes as a result of tighter conditions in the wider electricity system of South East Europe. Ukraine needs up to 2.1 GW of imports after most of its grid was destroyed during the war. At the same time, drought has reduced water levels in hydroelectric dams, and renewable energy sources sometimes do not perform well, depending on weather conditions.
As a result, wholesale prices in Greece rose between 110 euros per MWh and 173 euros per MWh since the beginning of December, creating a major problem for the government. The ministry has released subsidies for households this month and will soon announce similar measures for businesses.
The costs of the measures will be covered by the taxation of energy producers, based on an agreement with the European Commission. Expenditures for family subsidies so far for the month of December have reached 20 million euros.
Greece, along with Romania and Bulgaria, also engaged in a dialogue with the European Commission to apply a market mechanism that will reduce wholesale prices in the region during the period of unrest. The goal is to activate the measure in the second half of 2025.
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