Natural Gas Electricity Production Doubled in Greece Within a Year – Exports Continue to Soar

Greece maintained its strong export momentum in February, continuing the trend observed over the past year. According to the latest bulletin from ADMIE (Hellenic Electricity Market Operator), the country exported more than triple the amount of electricity it imported. Specifically, exports surged by 73% year-over-year to 642 GWh, while imports dropped by 72% to 202 GWh. Deputy Minister of Environment and Energy, Nikos Tsafos, recently highlighted Greece’s emergence as an electricity exporter, attributing this positive development to lower domestic energy costs compared to neighboring countries. Conversely, if Greece were a net importer, it would indicate higher local prices. Beyond external trade, ADMIE data revealed a significant 29% increase in domestic production compared to last February. This rise was driven by exports and cooler weather, leading to increased operation of conventional power plants. Natural gas (+107% year-over-year) and lignite (+17%) accounted for 59.5% of demand last month, while renewable energy sources stood at just 36%. Notably, domestic demand strengthened by 6.3% year-over-year. Lastly, in terms of supplier shares, PPC remained firmly in first place in February, increasing its market share from 51.08% in January to 51.40%.