Greek wholesale electricity hits €247.82/MWh as gas prices climb
Greece’s average wholesale electricity price reached €247.82/MWh on Monday, its highest since 2023, as natural gas prices approached €90/MWh, Ekathimerini reports. Gas supplies up to 40% of Greek electricity generation and often sets the market price; the government is expected to renew its request for greater fiscal flexibility at the Eurogroup on 9 November to support possible measures if prices stay high.
Bottom line — The Greek government’s 9 November Eurogroup request could shape the scope of support if wholesale prices remain above €240/MWh.
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Ekathimerini says the Greek wholesale electricity price rose 125.39% from its July level.
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Electricity prices in Greece reached €406.48/MWh during evening hours, according to Ekathimerini.
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ProtoThema reports that gas prices briefly reached €90/MWh before closing at €86.20/MWh.
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ProtoThema puts Greece’s October average wholesale electricity price at about €173/MWh, below Monday’s €247.82/MWh figure reported by Ekathimerini.
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ProtoThema says European gas storage was 75% full, while Germany’s stood at just over 61%.
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The UK parliamentary committee report covered by edie says gas sets UK electricity prices about 60% of the time, and urged faster work on reforming that link.
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The edie report says non-commodity costs account for 60–65% of UK electricity bills.