Greece stood out in Week 24 as one of the few Southeast European electricity markets where prices moved higher while most neighbouring systems softened. The Greek day-ahead average increased by 2.6% to €91.53/MWh, reflecting a combination of rising demand and a less balanced renewable profile compared to the regional average.
Electricity consumption in Greece increased by 55.0 GWh, or 5.8%, reaching 1.01 TWh, marking one of the strongest demand gains in Southeast Europe during the week. This rise was driven mainly by early summer cooling needs. However, the response from the power system was uneven due to diverging renewable trends.
Solar generation posted solid growth, increasing by 22.8%, but this was offset by a sharp 31.4% decline in wind output. As a result, overall variable renewable generation grew only slightly by 1.9%, limiting its ability to fully counterbalance rising consumption. At the same time, hydropower output fell by 17.3%, further reducing available low-cost flexible generation.
Even with these tighter supply conditions, Greek thermal generation decreased by 6.3%, as lower lignite and gas production outweighed the need to meet higher demand. This divergence from regional patterns made Greece an outlier, since most SEE markets increased thermal output in response to weaker hydro conditions and stronger load.
The country’s external trade position also shifted significantly. Greece reduced its net imports from 169.7 GWh to 61.9 GWh, a decline of 63.6%, indicating improved balancing through a combination of domestic generation adjustments and cross-border flows.
Overall, Greece’s Week 24 performance reflects a more complex pricing dynamic than simple demand-pressure economics. Rising consumption and weaker wind supported upward price movement, while stronger solar output and improved trade balance moderated volatility. The result was a modest price increase, even as much of the broader SEE region experienced declines.
For market participants, the Greek case highlights the increasing importance of renewable structure and timing, where the balance between solar, wind, and hydro availability can have a stronger impact on pricing than demand changes alone.