electricity demand

RES output facing 10 TWh cut by 2030 without demand rise

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Green energy production cuts can be expected to reach roughly 10 TWh by 2030 if electricity demand does not increase, Greek power grid operator IPTO data has indicated.

Assuming installed RES capacity has reached 30 GW by 2030, annual RES production can be estimated to reach 67 TWh, above that year’s electricity demand forecast of 59 TWh, while international grid interconnections are expected to facilitate a further 2 TWh in exports, all of which leads to an annual RES production cut of approximately 10 TWh in 2030, data presented by IPTO’s Konstantinos Tsirekis, Director of Strategy & System Development Planning, at a recent event staged by POSPIEF, the Pan-Hellenic Federation of Photovoltaic Producer Societies, has indicated.

Under current conditions, this 10 TWh surplus will result in annual RES production cuts of 14 percent for producers.

Energy storage boosts cannot completely resolve the issue as they have their limits. The use of storage systems allows time shifts of RES production (for example PV production from midday to evening hours), but without sufficient demand, this stored energy will be lost.

RES energy mix share at 56%, zero-level prices for 3 hours

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The wholesale electricity price average for today has fallen by nearly 30 percent, down to 47.5 euros per MWh from yesterday’s average of 67.5 euros per MWh.

Today’s wholesale electricity price maximum price will reach 81 euros per MWh, while the minimum price level will fall to zero, over three midday hours. Also, a price level of just 1 euro per MWh will apply for one hour.

Overall electricity demand for the day is close to 150 GWh. Renewables will cover a 53.7 percent share of the energy mix, followed by natural gas, covering 30 percent, electricity imports, providing 10.1 percent of today’s domestic electricity needs, hydropower, at 3.2 percent, and lignite at 0.2 percent.

Grid injection cuts to sharply increase over next two years

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Grid-injection cuts of renewable energy production offered to the grid will increase considerably over the next couple of years as a result of a greater presence of operating renewables combined with relatively slower incorporation of energy storage units to the grid, formulas applied to calculate prospective cuts have shown.

RES grid-injection cuts totaled 228 GW in 2023 but are expected to more than double this year, reaching over 500 GW, before skyrocketing to more than 1.5 TWh in 2025, according to projections, which is unfavorable news for RES producers and consumers, who would both benefit if this output were fully utilized.

A first wave of energy storage units is not expected to be linked to the grid until early 2026, meaning grid operators will have no choice but to dump excess renewable energy production made available over the next two years.

At present, RES facilities in operation offer a total production capacity of between 11.5 and 12 GW, while the market penetration rate of new units entering the grid totals 2 GW, annually, and consists mostly of PVs.

At this rate, RES facility additions to the country’s grid are expected to total roughly 16 GW by 2026.

Over this period, electricity demand is projected to grow modestly, from 49 TWh in 2023 to 49.5 TWh in 2024 and 51 TWh in 2025. Such demand levels will be insufficient to fully absorb the additional RES output expected to be made available over the same period.

 

Electricity imports up last week, wholesale prices fall

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Increased electricity demand in Greece last week led to a rise in electricity imports, up 76 GWh compared to a week earlier, which, in turn, subdued wholesale electricity prices at the Greek energy exchange. Domestic electricity demand last week rose by 5.5 percent to 919 GWh.

The market clearing price dropped over the past week, down to 97.39 euros per MWh, while the market clearing price average for the week was down 8.78 percent compared to the average a week earlier.

Last week’s highest market clearing price was 257.13 euros per MWh and the lowest was 1.34 euros per MWh.

The highest market clearing price average for a day last week was recorded on Wednesday (20/9), reaching 109.69 euros per MWh.

At a wider European level, wholesale electricity prices last week ranged from 68 to 118 euros per MWh, while, yesterday, they ranged from 78 to 129 euros per MWh. Wholesale electricity prices in Greece are currently among the highest in southeast Europe.

Domestic RES output averaged 47 GWh per day last week, capturing 38 percent of the week’s energy mix. Last week’s RES output totaled 329 GWh, a seven-week low.

Hydropower plants covered 9 percent of the country’s overall electricity demand last week, offering 76 GWh to the grid, 5.5 percent less than a week earlier.

Gas-fueled power stations in Greece produced 363 GWh last week, covering 42 percent of electricity demand, while lignite-fired power station production totaled 72 GWh for an 8 percent share of the energy mix.

 

Electricity demand drops for 13th successive month in June

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Overall electricity demand in Greece fell for a thirteenth successive month in June, dropping 10.6 percent, compared to the equivalent month a year earlier, a latest monthly report published by power grid operator IPTO has shown.

Electricity demand fell by 8.84 percent in the first half of 2023 compared to the equivalent period last year, the IPTO report showed.

The latest data highlights the savings-minded behavioral changes of small and large-scale consumers following the outbreak of the energy crisis.

Electricity demand in June totaled 3,866 GWh, down from 4,312 GWh in June, 2022.

Subsequently, electricity production was cut back, dropping by 15.1 percent to 3,541 GWh last month, according to the IPTO report.

RES and hydropower generation dominated the country’s energy mix last month, capturing a combined 54.37 percent share.

More specifically, the RES sector’s share was 43.89 percent and hydropower’s contribution represented 10.48 percent.

Gas-fueled power stations captured a 45.63 percent share of the energy mix in June.

Demand to reach 10 GW today, officials confident on grid

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Domestic electricity demand could reach 10 GW today, a record level for 2023, amid heatwave temperatures, but sector authorities are confident the grid is well prepared and equipped to handle the challenge.

Overall, the grid is in sound state, while any issues that may have emerged at some locations, especially areas affected by fires that have broken out in recent days, have been swiftly resolved to prevent a spread of grid problems in wider areas, sources at power grid operator IPTO have informed.

However, given the extensive fire fronts and high risk of new outbreaks in coming days, combined with elevated, heatwave-related electricity demand, IPTO officials are remaining vigilant, monitoring events for swift action if necessary.

According to an IPTO schedule for today, electricity demand is projected to peak at 1 pm, reaching 9,956 MW, over the highest level reached so far this year, 9,950 MW, recorded on July 14.

Solar panels are expected to cover over 40 percent of demand, delivering 4,300 MW, during today’s midday hours, when electricity demand will be highest.

Higher electricity demand will push prices higher on the energy exchange today, the average wholesale electricity price expected to rise by 6.62 percent to 135.58 euros per MWh, up from yesterday’s level of 127.17 euros per MWh.

 

Energy-intensive electricity demand down in Europe

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The International Energy Agency has issued a report projected a drop in global electricity demand this year, especially in Europe, where demand is seen falling for a second consecutive year to a two-decade low.

The agency expects electricity demand in the EU to drop by 3 percent in 2023, the rate at which it had also fallen in 2022.

IEA’s anticipated electricity demand reduction for the EU indicates Europe’s energy-intensive industries have yet to make a recovery following last year’s drop in production levels, as highlighted by a 6 percent slump in the EU’s overall electricity demand during the first half of 2023.

The IEA report notes that a drop in high-voltage industrial electricity demand, not milder weather conditions, is the main factor behind the EU’s reduction in power demand.

Many industrial producers reduced or stopped production in 2022, the IEA report noted. Primary aluminium (-12%), crude steel (-10%), paper (-6%) and chemicals (-5%) were among the energy-intensive sectors that significantly reduced production in 2022 due to plant closures and production cuts, according to the IEA report.

Declining domestic chemical production led to Europe becoming a net importer of chemicals in 2022, as key industry players such as BASF and OCI reduced production in the region.

The fertilizer industry is also experiencing a sharp decline with major European producers such as Yara and Grupa Azoty cutting back production of ammonia, urea, nitrates and NPK (nitrogen, phosphorus and potassium) fertilizers.

Steel production in Europe has fallen significantly as companies such as ArcelorMittal have temporarily closed furnaces in France, Poland, Spain and Germany.

Aluminium producers have been severely affected by increased electricity prices given the industry’s electricity intensity, with several companies such as Speira GmbH and Alro reducing production.

 

Electricity demand falls for 11th consecutive month, IPTO reports

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Electricity demand in Greece fell for an eleventh consecutive month in May, while RES and hydropower plants dominated the energy mix, capturing a record 64.66 percent share, a latest monthly report released by power grid operator IPTO has shown.

Electricity demand fell by 7.01 percent last month compared to May, 2022, according to the latest IPTO data.

High-voltage consumers recorded the biggest drop last month, reducing their electricity usage by 7.2 percent, while households and businesses reduced their usage by 6.9 percent, the IPTO data showed. Electricity demand last month totaled 3,610 GWh, the operator noted.

The energy crisis’ significant price increases and energy sufficiency concerns have brought about a drastic change in consumer behavior regarding energy usage, both by households and businesses.

This more apprehensive approach towards energy consumption has prevailed among consumers since last July.

Favorable weather conditions, including generally mild weather before, during and after last winter, have also contributed to the downward trajectory in electricity demand.

 

April power usage falls 3.11%, down for 11th month in a row

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Electricity usage in Greece fell for an eleventh successive month in April, down by 3.11 percent compared to the equivalent month a year earlier, a latest monthly report by power grid operator IPTO has shown.

Electricity usage over the eleven-month period fell by 15.09 percent, a record drop for such a time span, the operator noted.

The contraction in demand has been attributed to two factors, the efforts by consumers, small and large-scale, to restrict electricity expenses, as well as mild weather conditions.

Households and low and mid-voltage businesses reduced their electricity usage by 2.8 percent in April, while energy-intensive industries cut back on consumption by 6.4 percent.

Over the year’s first four-month period, overall electricity demand fell by 9 percent, the IPTO report showed.

Ptolemaida V launch to be determined by summer’s load

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Power utility PPC’s forthcoming launch of Ptolemaida V, a new 660-MW power station now undergoing a final stage of trial runs, will need to wait until full-scale testing has been conducted during the summer’s energy-demand peak.

The new facility, to initially operate as a low-emitting lignite-fired power station before eventually converting to natural gas, has been undergoing trial runs since last November, but further testing is needed ahead of its full-scale commercial launch, sources have informed.

The prolonged period of lower electricity demand, further subdued by the energy crisis, has not enabled testing of the new facility under actual high-demand conditions, the sources explained.

As a result, Ptolemaida V’s chief operating engineers plan to wait until July and August, when electricity demand in the country will be far greater, in order to test the facility’s mechanical systems under full-stress conditions.

The new PPC facility, officially presented by Prime Minister Kyriakos Mitsotakis in February, is planned to operate as a lignite-fired power station until 2028, when lignite as a source of electricity generation is expected to be completely phased out.

Its operating efficiency level is far greater than that of older-technology lignite-fired power stations. Ptolemaida V requires 1.5 tons of lignite to generate one MWh, compared to 2.2 tons needed by existing lignite-fired power stations, meaning it operates at a lignite cost of 30 euros per MWh compared to 45 euros per MWh of existing units. Its CO2 emission levels are also considerably lower, roughly 40 percent.

Electricity prices and demand drop during Easter holiday period

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Electricity prices and demand both fell last week, primarily driven lower by the Greek Easter holiday period.

Last week’s average clearing price dropped by 7.26 percent to 119.81 euros per MWh, the upper and lower clearing price levels reaching 190 euros per MWh and 9.72 euros per MWh, respectively.

Last week’s highest clearing price was recorded on April 13 at 131.90 euros per MWh.

Besides the drop in electricity demand during the Greek Easter holiday period, higher RES contributions, which rose by 40 percent last week, to 353 GWh, also helped lower electricity prices.

The price drop would have been even greater had power grid operator IPTO not reduced electricity imports during midday hours, an initiative taken to protect the grid from overload concerns.

Domestic electricity demand last week fell to less than 0.8 TWh, reaching 771 GWh. The week’s overall electricity demand at the energy exchange totaled 848 GWh.

RES units generated a daily average of 50 GWh last week to represent 48 percent of the energy mix.

Hydropower facilities covered 2 percent of electricity demand last week, generating 16 GWh, a 16 percent drop compared to a week earlier.

Natural gas-fueled power stations produced 245 GWh last week, covering 33 percent of demand, while lignite-fired generation hit a 51-week low at 44 GWh to cover 6 percent of demand.

 

Grid overcomes Easter’s grid overload scare with little action

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The country’s grid emerged untroubled by an overload scare concerning the Greek Easter long weekend, a situation prompted by the combination of high RES output, a lower-cost energy strategy planned by the grid operators, and low demand.

Overcast weather in most parts of the country restricted solar energy output, sparing power grid operator IPTO of the need to intervene in order to protect the grid from being overcharged amid low-demand conditions.

Had action been necessary, IPTO planned to orchestrate a highly complex combination of moves that would have included restricting electricity imports, deactivating as many power stations as possible and significantly cutting RES input.

As it turned out, Good Friday was the most challenging day for the grid, as cloudy weather on Easter Saturday and Easter Sunday proved pivotal in helping authorities overcome the overcharge threat.

IPTO, coordinating with distribution network operator DEDDIE/HEDNO, only needed to make limited RES cuts.

IPTO’s necessary RES injection limits universal, proportional

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Power grid operator IPTO is examining a number of factors concerning periods that combine low domestic electricity demand with high RES production, the most recent example being the March 25-26 weekend, in order to decide on an optimal formula protecting the grid’s security and stability.

Net-export periods limit the need for extraordinary measures, while, on the contrary, net-import periods require far greater caution.

Getting the balance right for an optimal formula regarding RES contributions to the grid is far trickier when high RES output primarily stems from abundant sunshine. Under such conditions, significant proportions of green-energy injections are provided by small-scale PV units not detectable by DEDDIE/HEDNO, the distribution network operator, as a result of the grid’s shortage of telemetrics, which offer automatic measurement from remote sources. If the grid were equipped with sufficient telemetrics, the operator’s task of intervening accordingly to get the balance right would be made simpler.

Conditions combining low electricity demand and high RES production are a new reality that will continue to exist for many years, until energy storage technologies have matured sufficiently and become an integral component of the grid.

Until then, IPTO must – and already has – deploy solutions such as limiting both electricity imports and RES output injected into the grid. For the time being, grid-injection limits on RES producers are being imposed universally and proportionately.

Wholesale power price weekly average drops to 84-week low

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The country’s wholesale electricity price weekly average dropped considerably last week to a level just over the psychological barrier of 100 euros per MWh, at 106.49 euros per MWh, an 84-week low, reflecting a downward trajectory in electricity demand.

Last week’s market clearing price fell by 17.13 percent compared to a week earlier, peaking at 186.55 euros per MWh and registering a low of 7.71 euros per MWh. Last week’s highest market clearing price average, for a day, was registered on Sunday, April 2, reaching 127.50 euros per MWh.

Electricity prices in Europe last week ranged between 54 and 133 euros per MWh, while prices yesterday swung from 62 to 142 euros per MWh.

Warmer weather last week led to a reduction in electricity demand, which, along with elevated RES output, pushed prices lower.

In Greece, weekly electricity demand fell last week but remained slightly above a level of 0.8 TWh, at 813 GWh. The energy exchange recorded total electricity demand for the week at 899 GWh, a figure taking into account export outflow of 86 GWh.

RES units averaged a daily output of 58 GWh last week for a higher share of the energy mix, which reached a weekly average of 52 percent. RES units produced a total of 405 GWh last week, a 55 percent increase compared to a week earlier.

Natural gas-fueled electricity’s share of the energy mix last week was 20 percent, net imports followed at 15 percent, lignite-fired generation represented 11 percent and major-scale hydropower units represented 2 percent.

Low-voltage electricity demand, including households, represented 54 percent of overall demand in Greece last week. Medium-voltage demand represented 19 percent of demand and high-voltage demand represented 18 percent. Demand concerning the Cretan grid represented 6 percent and grid losses reached 3 percent.

RAE increases distribution usage fee, demand fall a factor

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A distribution network usage fee included in electricity bills is set for an increase to cost typical households an additional 76 euros or so per year, following a decision reached by RAE, the Regulatory Authority for Energy.

RAE took this decision based on two factors, firstly after opting to offer distribution network operator DEDDIE/HEDNO a regulated revenue increase, its first in many years, which will lift the operator’s required revenue to 981 million euros in 2023 from 744 million euros last year.

The second factor behind the increase is the significant decrease in electricity demand compared to 2019 levels, a decline linked to the pandemic’s lockdown periods as well as the ensuing energy crisis. This decrease in electricity demand has forced RAE to increase the operator’s revenue per KWh.

Ordinary households, using up to 3,750 kWh of electricity per year, can now expect to face annual distribution network usage surcharges totaling 174 euros, up from 98 euros at present, according to calculations conducted by local energy market price-comparison website allazorevma.gr.

Power usage in February falls for 8th month in a row, down by 2.25%

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Electricity usage in Greece fell for an eighth successive month in February, dropping by 2.25 percent, compared to the equivalent month a year earlier, data in a latest report from power grid operator IPTO has shown.

However, the February drop was far milder than the 13.78 percent electricity usage decline recorded in January.

Consumers in Greece used an electricity amount of 4,069 GWh in February, down from 4,163 GWh in February, 2022.

Monthly electricity usage in the country has not stopped declining since an initial fall registered last July.

Renewable energy dominated February’s energy mix, capturing a 41.2 percent share, followed by gas-fueled power stations, with 22.5 percent, and lignite-fired power stations, at 15 percent.

As for retail electricity market shares, power utility PPC, the dominant player, gained 2.5 percent in February. compared to the previous month, for a 62.58 percent market share.

Among the independent suppliers, Protergia, a member of the Mytilineos group, remained at the forefront in February with a 7.44 percent retail market share, down from 10.53 percent a month earlier.

The country’s two other vertically integrated energy groups followed. Heron ended January with a 7.03 percent market share, up from 6.83 percent, and Elpedison captured a 5.91 percent market share, down from 6.02 percent.

Elsewhere, NRG captured a 4.82 percent retail electricity market share in January, up from 4.55 percent, followed by Aerio Attikis at 2.78 percent, marginally above the previous month’s 2.66 percent; Zenith registered 2.23 percent (2.17%); Watt & Volt was at 2.09 percent (2.06%); and Volterra captured 1.81 percent (1.8%). The remainder of suppliers shared a total of 3.3 percent.

 

IPTO facing grid-sufficiency challenge this coming Easter

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Current energy market conditions, combining reduced electricity demand and deeper penetration of the energy mix by renewables, have emerged as a grid-security challenge for power grid operator IPTO, raising fears of power outages.

Output by RES units is generally on the rise and periods of low energy demand, such as the present, oblige the operator to manage a grid that is highly reliant on green energy, representing over 50 percent of the energy mix.

A sharp rise in energy demand expected during the upcoming Easter period and the subsequent dip pose an even greater challenge for the operator, required to manage the RES-dominated grid without support from energy storage units, still not part of the energy market picture but expected to figure more prominently in coming years.

Officials at RAE, the Regulatory Authority for Energy, note IPTO has fully informed the authority on the challenges it faces and action it plans to take to remedy the situation.

IPTO may choose to cut back on RES reliance. A second measure may entail limiting electricity imports through a freeze on interconnection rights.

Ioannis Margaris, Deputy Chairman at IPTO, highlighted the tricky situation faced by the operator at last week’s Power & Gas Forum in Athens.

“Our operations are on edge,” he noted, describing high-risk periods when low demand is combined with high RES penetration and mass withdrawal of conventional power stations, adding the problem will be exacerbated as Easter approaches. “Easter will be a big test.”

European electricity prices fall, demand down, RES output up

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European energy market price levels fell last week, influenced by lower demand as well as increased renewable energy output by wind and solar farms.

Energy markets across southeast Europe recorded noteworthy price reductions last week that averaged 17.44 percent, compared to a week earlier. Favorable weather conditions in this region led to a 60 percent increase in RES output, wind farms being the main contributor.

Serbia posted the biggest week-to-week price reduction in southeast Europe, a 21.34 percent drop in wholesale electricity prices, followed by Greece, where the week’s drop averaged 20.31 percent. Bulgaria and Romania both recorded average price reductions of 19.16 percent last week. Prices in Turkey have also been on a downward trajectory.

In central Europe, spot markets fell to weekly averages of less than 135 euros per MWh. The weekly average, for this region, was lowest in Germany, at 119.05 euros MWh, a 12.61 percent reduction compared to a week earlier as a result of lower demand and increased wind energy output.

Central Europe’s highest wholesale electricity prices last week were recorded in Switzerland, at 134.48 euros per MWh, despite an 11.22 percent reduction compared to a week earlier. France followed with a weekly average price of 131.07 euros per MWh, driven higher by power utility EDF strikes that reduced output at nuclear power plants, covering roughly 70 percent of the country’s energy mix.

NECP adjusted to meet loftier EU aim for energy usage drop

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The Greek government has adjusted its National Energy and Climate Plan (NECP), setting a loftier energy consumption reduction goal that aligns the plan with an even more ambitious EU target just set.

Greece has now set a loftier 8 percent energy consumption reduction goal, compared to 2020, by the end of the decade, while the EU, through a provisional agreement reached by the European Council Presidency and Members of the European Parliament, is aiming for an overall 11.7 percent drop by 2030, compared to 2020, above the target of a 9 percent reduction that was set in 2021.

The 11.7 percent reduction goal, at EU level, is a binding target and means EU consumers will need to limit annual energy usage to the equivalent of 763 million tons of oil by the end of this decade.

The EU reduction target is not proportionally shared by member states but, instead, takes into account their capacity to limit respective consumption, a realistic approach offering a certain degree of flexibility.

Greek authorities intend to intensify the country’s energy-efficiency drive concerning buildings, further promote smart management of energy consumption, and maintain efforts aiming to reshape consumer behavior for an overall reduction of energy demand.

Wholesale electricity prices up over past week

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Wholesale electricity price levels rose over the past week, the average market clearing price rising by 4.76 percent compared to the previous week to 151.95 euros per MWh, with upper and lower levels reaching 218.35 and 80.16 euros per MWh, respectively.

The past week’s highest average market clearing price was recorded on March 2, reaching 160.60 euros per MWh.

During the same period, wholesale electricity price levels in other parts of Europe ranged from 136 to 195 euros per MWh, while prices yesterday ranged from 141 and 167 euros per MWh.

Electricity demand remained low, for this time of the year, while lower RES and hydropower unit output led to a slight increase in prices at the Hellenic Energy Exchange, according to an analysis by IENE, the Institute of Energy for Southeast Europe.

RES units averaged a daily output of 36 GWh for an energy-mix share of 29 percent over the past week, official data showed. RES output totaled 251 GWh for the week, an 11 percent reduction compared to a week earlier.

Hydropower facilities covered 2 percent of demand, injecting just 16 GWh into the grid, 14 percent less than a week earlier. Natural gas-fueled power stations generated 286 GWh over the past week, covering 33 percent of demand, while lignite-fired power stations produced 145 GWh to cover 17 percent of electricity demand.

Electricity demand remained virtually unchanged over the past week, at 897.131 MWh, compared to 897.306. It peaked at 138.128 MWh last Thursday, while the week’s low was recorded on February 27, at 107.471 MWh.

The low-voltage category, including households, represented 56 percent of electricity demand over the past week, the medium-voltage category represented 19 percent of demand, the high-voltage category, or energy-intensive industry, represented 17 percent, 5 percent concerned the Cretan grid, while electricity losses of 3 percent were also recorded.

Power demand continues fall in January, RES dominate output

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Electricity demand plunged by 13.24 percent in January, compared to the same month a year earlier, registering a drop for a seventh successive month, a monthly report published by power grid operator IPTO has shown.

Households, businesses and industrial producers have cut back on power usage in an effort to contain their energy costs.

January’s contraction in electricity demand ranks as the second-biggest recorded during the seven successive months of decline and is one of the biggest reductions ever recorded in Greece.

Households registered the biggest cut in electricity usage in January, down 15 percent compared to January, 2022, while heavy industry also cut back on consumption, by 7.8 percent, the January figures showed.

Overall electricity demand fell to 4,235 GWh in January from 4,881 GWh in January, 2022, the IPTO data showed.

Subsequently, the drop in electricity demand prompted a generation reduction of 25.75 percent in January, compared to the same month a year earlier, according to the IPTO data.

Renewables and hydropower dominated the country’s energy mix in January, capturing a 53.6 percent share. Natural gas and lignite-generated electricity captured a 30.5 percent share.

 

Lignite, gas-fueled facilities on full to meet spike in demand

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Electricity demand is expected to peak at 8,190 MW this afternoon, while the day’s overall demand will reach 163.258 GWh, an amount that will require input from virtually all available lignite and gas-fueled power stations so that the country can cope with the Barbara weather system, which has produced freezing temperatures and snowfall.

The RES sector is also greatly contributing to help the grid cope with significantly higher electricity demand and avert any fears of an energy shortage.

The country’s RES units are today expected to offer 79.59 GWh, roughly 50 percent of the day’s overall demand, while lignite and gas-fueled power stations are planned to generate 62.44 GWh.

According to power grid operator IPTO’s schedule for the day, five of power utility PPC’s lignite-fired power stations will contribute to the grid, these being Agios Dimitrios I, Agios Dimitrios III, Agios Dimitrios V, Meliti and Ptolemaida V, a new 660-MW facility still undergoing a full-scale trial run ahead of its launch next month.

As for gas-fueled power stations, PPC’s Aliveri V and Megalopoli V will be called into action, while the private sector will contribute with a Heron unit, two Elpedison facilities, in Thessaloniki and Thisvi, as well as a Corinth Power unit.

The same lignite and gas-fueled power stations were recruited to contribute to the grid yesterday, when the Barbara weather system made landfall, resulting in an electricity demand peak at 7,990 MW and overall demand of 161.080 GWh.

Electricity demand down for sixth successive month

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Electricity demand in the household, professional, business and industrial categories fell for a sixth successive month in December, sliding by a record 13.69 percent, overall, compared to the corresponding month a year earlier, while, on an annual basis, demand fell by 3.55 percent last year compared to 2021.

Consumer behavior has changed considerably during the energy crisis, higher energy costs forcing users to cut back on energy consumption.

In November, electricity demand fell by 9.96 percent compared to the same month in 2021, October’s fall was 8.26 percent, September demand fell by 4.26 percent, the decline in August was 12.71 percent, and July’s drop was 11.24 percent.

Households and businesses recorded the biggest reductions in electricity demand last month, this being 15.61 percent compared to December, 2021, while high-voltage consumers used 1.51 percent less electricity.

As expected, the reduction in electricity demand prompted a drop in electricity generation in 2022, down 3.08 percent on 2021. Conventional facilities reduced their generation by 12.57 percent, but renewable energy production rose by 14.32 percent compared to the previous year.

Electricity demand falls again, sliding 9.87 percent

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Electricity demand has recorded a new overall reduction, falling 9.87 percent in November, latest monthly market data published by power grid operator IPTO has shown.

The biggest reduction, 11.9 percent, or 395 GWh, was recorded on the mainland grid. Demand through the Cretan grid interconnection fell by 10 GWh, while demand recorded by high-voltage consumers dropped by 8 GWh, or 1.4 percent, the IPTO data showed.

Power utility PPC increased its share of the electricity market to 61.14 percent, up from 56.51 percent in the previous month, according to the IPTO data.

Mytilineos captured a market share of 8.74 percent, down from 12.89 percent. Heron followed with a market share of 7.25 percent, from 7.46 percent. Elpedison was next with 6.31 percent from 6.51 percent, followed by NRG, at 4.64 percent from 4.71 percent, Fysiko Aerio at 2.4 percent from 2.33 percent, Volterra at 2.12 percent from 2.36 percent, Watt & Volt at 2 percent from 1.91 percent; Zenith at 1.98 percent from 1.84 percent, Volton at 1.01 percent from 1.03 percent and the remainder of companies at 2.40 percent from 2.45 percent.

 

Industrial power usage cut auction set for January 18-19

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An auction offering compensation amounts to high and medium-voltage consumers for electricity usage reductions of 5 percent during peak hours, an order that needs to be met by all EU member states this winter, will be launched on January 18 and 19 by power grid operator IPTO, the operator has announced.

Industrial consumers submitting lowest compensation amounts requested in return for their electricity consumption cuts will qualify for this mechanism, which will remain valid until March 31, 2023, when a commitment made by all EU member states to limit respective industrial electricity demand during peak hours will expire.

Greek authorities have defined the evening hours between 6 pm and 9 pm as the country’s peak hours.

Compensation amounts to be awarded to the winning bidders are planned to stem from the Energy Transition Fund.  An upper limit of 400 euros per MWh has been set for the mechanism’s bidding process.

 

 

Electricity demand falls for fourth consecutive month

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Electricity demand in the household and business categories fell for a fourth consecutive month in October, plunging 9.25 percent compared to the equivalent month a year earlier, power grid operator IPTO’s monthly report has shown.

This downward trend highlights the efforts being made by anxious consumers to keep their energy costs down. At this rate, Greece appears to be on target to achieve the country’s energy-saving goals.

Electricity demand had fallen 3.27 percent in September, 13.17 percent in August, and 11.78 percent in July.

In terms of quantity, electricity demand fell to 3,604 GWh last month from 3,971 GWh in October, 2021, according to the IPTO report.

Domestic electricity production also dropped sharply last month, falling 22.94 percent compared to October, 2021, to 3,155 GWh.

Market shares of electricity retailers also changed. Power power PPC’s market share dropped below 60 percent for the first time in months, reaching 56.73 percent, down from 60.81 percent in September.

Protergia, a member of the Mytilineos group, gained from PPC’s loss, its market share climbing, for a second consecutive month, to 12.88 percent from 8.77 percent in September.

Heron maintained third place with a 7.31 percent market share, followed by Elpedison (6.50%), NRG (4.66%), Fysiko Aerio (2.32%), Volterra (2.29%), Watt & Volt (1.93%), Zenith (1.87%) and Volton (1.04%).

 

 

Auction for lower electricity usage pay by end of November

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The energy ministry is aiming to stage a first auction by the end of this month for remuneration of high and medium-voltage enterprises cutting back on electricity usage as of December 1, through a mechanism being prepared by IPTO, the power grid operator.

All EU members will need to reduce electricity consumption by 5 percent during peak demand as of December 1.

In Greece, high and medium-voltage enterprises will bid for remuneration amounts at auction as compensation for reduced electricity usage.

The 5 percent reduction of electricity usage for low-voltage consumers will be optional, one reason beign that households have yet to be installed with smart meters, meaning their electricity consumption levels at specific times of the day cannot be tracked.

Consumers in Greece will be set a three-hour low-consumption period, between 6 pm and 9 pm, throughout the week. Households will need to try and avoid using energy-intensive appliances during these hours.

Electricity usage drops for third consecutive month

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Household and business electricity consumption levels fell for a third consecutive month in September, down by 5.55 percent compared to the equivalent month a year earlier, a latest monthly report issued by power grid operator IPTO has shown.

This reduction of electricity usage, however, was lower than the contraction rates recorded in August and July, 12.71 percent and 11.24 percent, respectively.

September’s lower reduction rate was attributed to the return of consumers following summer holidays and post-summer business re-openings.

In the low and medium-voltage categories, electricity usage in September fell 3.98 percent, well below August’s reduction of more than 13 percent.

On the contrary, high-voltage electricity consumption fell 4.25 percent in September, which was higher than the fall of 3.98 percent in August. September’s greater drop in electricity usage by industrial players was prompted by their switches to alternative energy sources, such as diesel, in an effort to reduce energy costs.

Overall electricity consumption during the year’s first nine-month period fell by 5.13 percent, compared to the equivalent period a year earlier, the IPTO data showed.

Also, domestic electricity generation in September dropped by 13.83 percent, to 3,454 GWh, compared to the same month last year, the IPTO data showed.

RES output doubled, wholesale electricity price plunges 44%

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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.