Wholesale electricity prices appear set to deescalate for a third successive month, prompting market officials to interpret the trend as a definite sign of price normalization, since January.
Even so, some market officials warn the market remains volatile and could still be significantly impacted by various unfavorable events.
Price levels in the first half of March were below those of the equivalent period in February.
Average wholesale electricity prices at the energy exchange over the past couple of days were below 100 euros per MWh, at 89.74 and 97.42 euros per MWh, respectively.
Earlier this month, wholesale electricity price levels ranged between 106 and 160 euros per MWh, compared to between 137 and 168 euros per MWh in the first half of February.
Wholesale electricity prices averaged 191.79 euros per MWh in January and dropped to an average of 156.24 euros per MWh in February, levels well below December’s average of 276.89 euros per MWh.
The natural gas market’s TTF index has followed a similar course. It ranged between 85 and 140 euros per MWh in December, fell to levels of between 65 and 68 euros per MWh in January, and has dropped to levels as low as 42 euros per MWh in recent days. The TTF has since edged up to levels of between 49 and 52 euros per MWh over the past three days.
Electricity retailers are expected to announce lower prices for April in a few days’ time. By law, power suppliers in Greece are required to announce their prices for each forthcoming month by the 20th of every preceding month.