Doubled RES production in recent days has been a key factor in a 44 percent decrease in the price of wholesale electricity over the past three days, down to levels last registered roughly a year ago.
Day-ahead market prices yesterday dropped to 166.12 euros per MWh, from 298.97 euros per MWh last Thursday.
Besides the doubled RES production, lower electricity demand over the weekend was cited as another factor in this price drop, according to the Hellenic Energy Exchange and power grid operator IPTO. Electricity demand dropped by roughly 20 percent over the weekend, compared to the preceding weekdays, IPTO figures showed.
On October 13, RES and hydropower facilities represented 34.4 percent of the energy mix, their participation rising to 68 percent yesterday.
As a result, natural gas and lignite-fired power stations played a lesser role over the past few days. Natural gas and lignite-fired power stations yesterday represented 8.55 percent and 4.74 percent of the energy mix, respectively, from 31.42 percent and 8.83 percent last Thursday.
Yesterday, between 12pm and 3pm, RES units covered 83 percent of the country’s energy mix.