The Greek-Italian grid interconnection’s temporary disruption for repair work is offering partial protection against wholesale electricity price increases in Greece.
The temporary-closure period for the grid interconnection, which has been sidelined towards both directions since August 19, has just been extended until September 3 following a request made by Italy’s power grid operator Terna, according to an announcement made by IPTO, Greece’s power grid operator.
Last Friday and Saturday, the wholesale electricity price was 300 euros per MWh higher in Italy compared to Greece.
Under normal conditions, price differences between neighboring markets prompts electricity export activity towards the lower-priced country.
Greek electricity exports were considerable in July, reaching 500 GWh, data provided by IPTO showed. Of this total, 351 GWh was exported to Italy, 253 GWh to Albania, 184 GWh to North Macedonia and 90 GWh to Bulgaria.
Electricity export figures will be subdued in August as a result of the disruption of the Greek-Italian grid interconnection. The link has been closed down for repairs on numerous occasions in recent years.