A combination of low electricity demand and boisterous winds experienced in various parts of Greece over the past few days, which generated extraordinarily high power production at wind energy facilities, ended up flattening the System Marginal Price (SMP), the wholesale price, to zero levels, an unprecedented phenomenon in the country’s electricity market, day-ahead market figures have shown.
The SMP level was zeroed out on the night of September 26 and for an hour after midnight on September 27.
Peak demand during these hours registered at 4,454 MW while 12 power stations – eight lignite-fired, four natural gas-fueled – fed the grid.
Wind energy production reached levels of 1,721 MW during these hours and experienced a further rise to 2,820 MW once photovoltaic output was also added to the grid.
Electricity exports of 6.757 GWh were registered during this period. They determined the SMP level for many hours. It registered at 51.92 euros per MWh, driven lower by the zero-level periods and lower levels during nighttime hours, ranging from 29 to 33 euros per MWh.