In Greece the second highest electricity price in Europe in January

Of Thanks to Floudopoulos

The energy crisis is expected to concern, among others, the current informal EU Council of Energy Ministers. meeting in France. A crisis that, according to the Commission’s quarterly report, is expected to continue to cause problems for the economies and consumers of electricity and gas in Europe for the next two to three years.

In fact, according to the Commission, retail prices for electricity and gas are expected to continue to increase in the coming months as the high prices of the 4th quarter of 2021 have not passed into consumption.

Although the energy crisis is a pan-European phenomenon that affects almost all countries of the European Union equally, nevertheless, Greece appears to be, at least for January, one of the most expensive wholesale markets in electricity.

According to the current picture of the EU electricity markets the average price of electricity for our country is 213 euros / MWh, which is the second highest price in the EU. behind only Italy (216 euros / MWh). In fact, Greece, along with Italy and Switzerland, are the only countries that show an average January price above 200 euros / MWh.

In other major markets, prices are significantly lower than in Greece: Germany 162 euros / MWh, Belgium 183 euros / MWh, Austria 180 euros / MWh, the Netherlands 182 euros / MWh, Spain 193 euros / MWh, France 197 euros / MWh. The lowest wholesale electricity price in Europe is Poland at 142 euros / MWh.

It is recalled that the average wholesale price in November was at 228 euros / MWh while in December it increased even more to 235 euros / MWh.

It should be emphasized, finally, that the Greek market appears more expensive than the rest of Europe, due to the way in which natural gas is priced in our country.

Specifically, the selling price of the gas is determined based on the average import price of the previous month. In practice, in January, the record cost of natural gas recorded in December is integrated into the Greek market.