According to data released by the National Regulatory Authority for Energy (RAE), Greece currently holds the seventh highest wholesale electricity price across the European Union. The average wholesale electricity price in the country so far this year stands at €104 per MWh. Countries ahead of Greece include Bulgaria, Hungary, Ireland, Italy, Malta, and Romania, with prices ranging from €104 to €119.
Sweden maintains the lowest wholesale price at €37 per MWh, followed by Spain and Portugal at €65 per MWh. However, Greece remains more affordable than several neighboring countries such as Italy, Albania, North Macedonia, and Bulgaria, where consumers pay significantly higher rates.
It’s worth noting that during the first quarter of the year, Greece saw a peak wholesale price of €144 per MWh. This was followed by a significant decline, bringing the rate down to €104 per MWh by the end of August.
The situation differs when it comes to final retail prices paid by households. According to a July report published by HEPI, Greece ranks 16th when all charges including taxes and fees are considered. However, when factoring in purchasing power parity, Greece climbs to ninth place—above the European average.
Environment and Energy Minister Stavros Papastathopoulos recently addressed electricity prices on SKAI radio. He noted a considerable drop in prices this summer compared to previous years but emphasized that the government is not resting on its laurels. At the beginning of September, Greece plans to submit new proposals to the EU working group tasked with addressing broader market issues. The minister stressed that “the goal is to ensure that this decline translates into lower final consumer prices.”
As energy markets continue to stabilize, Greek officials remain committed to pushing for further reductions and ensuring that consumers benefit directly from the observed trends.