On this first day of July, normally a time of heightened summer-related electricity demand, the subdued overall activity amid the confines of capital controls imposed at the beginning of the week has prompted a drastic drop in demand for power, forcing the electricity market to make necessary adjustments.

Electricity demand peaked at 6.7 MW and, for many hours, has hovered at even lower levels, primarily as a result of the cutback, even stoppage, of operations by a considerable number of energy-intensive industrial enterprises.

The marginal price level has also dropped sharply to 49.942 euros per MWh, falling below the level of 50 MWh for the first time in many years.

The main power utility PPC’s lignite-fired power stations are operating at full capacity. The facilities at Agios Dimitris, Kardia, and Melitis facilities, and one unit at Amyndeo, have been programed to operate at full capacity today. As for gas-fueled electricity stations, the PPC facilities in Aliveri and Megalopoli, as well as a facility run by Epledison in Thessaloniki, currently suffice to cover the subdued electricity demand.

Electricity imports have also fallen, while hydropower plants are also being employed.

PPC has assured the grid is adequately equipped to remain sustainable, while according to CEO Manolis Panagiotakis, the utility is sufficiently stocked with fuel and lignite deposits to cover needs.