RES auction starting prices in Greece have, contrary to other European markets, remained unchanged at levels set earlier this year ahead of a  session in September and, as a result, are currently the continent’s lowest.

Several months ago, local authorities set RES auction starting prices of 54 euros per MWh for solar energy and 63 euros per MWh for wind energy.

The energy crisis and its escalated wholesale electricity prices prompted – in more recent times – countries such as Germany to offer investors generous increases in RES auction starting prices.

These rises were offered in parts of the continent after European RES auctions held in 2022 failed to attract the anticipated level of interest from investors, leaving significant amounts of unwanted capacities, including in Greece.

Berlin raised its RES auction starting price for solar energy to 73 euros per MWh from 60 euros per MWh for a session in March. The initiative drew a satisfactory number of participants.

Serbia, preparing for its inaugural RES auction, is offering a starting price of 105 euros per MWh for wind energy and 90 euros per MWh for solar energy to attract investors.

Italy, for its most recent RES auction, in May, set a starting price of 65 euros per MWh for solar energy, the same level set by Spain for its most recent RES auction.

The UK recently offered a starting price of 54.8 euros per MWh for solar energy and 61.9 euros per MWh for wind energy.

Returning to Greece, it remains to be seen if the de-escalation in electricity prices of late will prompt investors to choose RES auctions for their project tariffs or instead opt for other solutions such as PPAs.