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

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.

Wholesale power price drop recorded on Christmas Day

The combination of increased electricity imports, high RES production and reduced energy demand resulted in a reduction of wholesale electricity prices on Christmas Day, including a near-zero-level market clearing price.

On Christmas Day, the market-clearing price dropped to as low as 0.04 cents per MWh, while the day’s average price was 98.09 euros per MWh.

Electricity imports comprised 34.72 percent of the country’s energy mix on Christmas Day, followed by renewables (32.14%), natural gas-fueled production (21.66%), hydropower (8.27%), and lignite-fired generation (0.27%).

Market conditions were similar on Boxing Day, the average market-clearing price dropping 10.94 percent to 87.37 euros per MWh. The day’s market-clearing price low was 2 euros per MWh, while the maximum price reached 135.28 euros per MWh.

As was the case on Christmas Day, electricity imports also dominated the energy mix on Boxing Day with a 33.91 percent share, followed by renewables (32.66%), natural gas-fueled production (21.98%), hydropower (8.02%), and lignite-fired generation (0.26%).

As for today, the average market-clearing price is forecast to rise mildly, by 3.8 percent, to 90.69 euros per MWh, as a result of greater energy-mix contributions by natural gas and lignite and a drop in RES input, while the day’s lows and highs are expected to reach 35 euros per MWh and 137.39 euros per MWh, respectively.

Once again, electricity imports are planned to dominate the energy mix today with a 31.45 percent share, followed by natural gas-fueled production (28.55%), renewables (24.99%) hydropower (7.74%), and lignite-fired generation (3.97%).

It is also worth pointing out that, over the past seven-day period, the market-clearing price has remained below the 100 euro per MWh barrier for five days, exceeding this level on just two days.

 

Subsea survey for Greek-Italian cable capacity boost early 2024

A project aiming to triple the capacity of the Greek-Italian electrical grid interconnection is set for a challenging stage that entails thorough mapping of the seabed along the existing line’s 220-km route.

Survey work for this project is planned to begin in early 2024 following an agreement reached earlier this week at a wide-ranging Athens meeting between Giuseppina Di Foggia, CEO at Italian grid operator TERNA, and Manos Maousakis, the chief executive at Greek power grid operator IPTO.

The TERNA chief was joined by a team that included the company’s CFO as well as the head of major projects and international development.

Greece is under growing pressure to establish new export outlets for the country’s excess renewable energy. The country’s electricity exporting activity is becoming more frequent during midday hours. Also, Italy, it should be pointed out, is Europe’s biggest electricity importer.

According to sources, the Greek and Italian power grid operators are exploring all options, based on the respective experience of each company, to boost the capacity of the Greek-Italian subsea cable link from 500 MW to 1,500 MW as swiftly and efficiently as possible.

At this week’s meeting, held Tuesday, IPTO and TERNA also agreed on the need for new corridors transporting RES production from southern to central Europe.

TERNA, Europe’s biggest operator, is a highly influential market player operating 26 international interconnections and present on three continents.

 

Electricity imports up last week, wholesale prices fall

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.

 

Wholesale electricity price up in July, year’s first increase

The price of wholesale electricity in the Greek market rose to 112 euros per MWh in July, up from 91 euros per MWh a month earlier, becoming this year’s first month-to-month increase, latest data from the Greek energy exchange has shown.

The average price for natural gas transactions in July was 29.87 euros, up from 28.78 euros in June.

Last year, in July, 2022, wholesale electricity in Greece was priced at 338 euros per MWh and natural gas was at 132 euros.

Natural gas was responsible for 37 percent of electricity generation last month, followed by renewables, which captured a 29 percent share, electricity imports, at 18 percent, hydropower, at 7 percent, and lignite, at 6 percent.

As for electricity usage, 58 percent of electricity generated went to the low-voltage category, 19 percent to medium voltage, and 11 percent to high voltage.

Finally, the electricity import-export balance was dominated by imports with 95 percent, compared to only 5 percent for exports.

Wholesale electricity prices drop to 103-week low

The country’s wholesale electricity prices, down to pre-energy crisis levels in recent weeks, have further de-escalated to a 103-week low, an important development given the fact that extraordinary measures adopted to combat the extreme situation are set to expire in October.

According to latest official data, the average market clearing price fell to 85.12 euros per MWh over the past seven days, down 1.24 percent compared to a week earlier. Over the past week, the market clearing price peaked at 149.77 euros per MWh and dropped as low as 5.11 euros per MWh.

In other parts of Europe, last week’s average market clearing price ranged from 76 euros per MWh to 96 euros per MWh.

It is worth pointing out that, despite the local price de-escalation, wholesale electricity prices in Greece remain among the highest in southeast Europe.

A 53 percent share of electricity demand last week concerned low-voltage electricity, reaching roughly 447 GWh, 22 percent concerned the medium-voltage category, totaling 181 GWh, and 16 percent concerned high-voltage demand, which reached approximately 137 GWh.

As for the country’s energy mix last week, the RES sector captured a 44 percent share, followed by natural gas (30%), net imports (15%), major-scale hydropower plants (7%), and lignite (4%).

 

 

Grid facing overload challenge this Greek Easter Sunday

A drop in electricity demand forecast for this coming Greek Easter Sunday, combined with high renewable energy contribution to the energy mix, could prove to be a major test for the country’s grid, as was the case on March 26, when such a combination forced the power grid operator IPTO to cut back on RES production over extended periods in order to protect the grid from voltage overloads as demand plunged to just over 500 MWh for an hour.

Ioannis Margaris, Deputy Chairman at IPTO, highlighted the danger at the recent Power & Gas Forum in Athens, noting the grid is operating on edge and will be tested during the Greek Easter break.

In its weekly outlooks, IPTO had recently forecast a load of 4,390 MW and demand of 1,330 on March 26 at 2pm, before actual demand ended up reaching just over 500 MW.

For this coming Easter Sunday, IPTO has forecast loads of as low as 3,750 MW during the midday hours, meaning the operator is expecting another challenge that could be even trickier than the recent encounter. A day earlier, on Easter Saturday, IPTO has forecast a higher load of 4,800 MW for the midday hours.

To combat the grid-overcharge threat, IPTO plans to orchestrate a highly complex combination of moves that will include restricting electricity imports, deactivating as many generation units as possible and significantly cutting RES input.

Wholesale power price weekly average drops to 84-week low

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.

PPC retail electricity market share at 63.3% in December

Power utility PPC’s captured a retail electricity market share of 63.29 percent in December, followed by the Mytilineos group’s Protergia, at 7.6 percent, Heron, at 7.03 percent, and Elpedison, at 6.09 percent, a latest report published by the Hellenic Energy Exchange has shown.

Day-ahead market prices in December rose 22 percent, averaging 276 euros per MWh compared to 227 euros per MWh in November, while electricity demand increased to 4,488 GWh from 4,109 GWh, the Energy Exchange data showed.

As for December’s energy mix, natural gas-fueled electricity captured the greatest share, 37 percent, followed by renewables, at 24 percent, electricity imports, at 19 percent, lignite-fired generation, at 15 percent, and hydropower, at 3 percent.

Gas-fueled power stations output down, Italy imports up

The energy-mix share of gas-fueled power stations has contracted significantly as a result of the country’s rigid month-ahead pricing method used for natural gas, which prevented electricity producers from taking advantage of falling spot market prices throughout October. Gas prices remained fixed at higher price levels recorded at the end of September.

Given the circumstances, energy companies chose to shut off gas-fueled power stations in significant numbers. This resulted in a sharp increase of electricity imports from Italy, where, as is also the case in other European markets, the spot market greatly influences gas price levels.

Italy’s day-ahead electricity market was below that of Greece’s throughout October, ending the month at 211.63 euros per MWh, compared to 232.6 euros per MWh in Greece, Europe’s highest, despite a 44 percent drop from September.

Gas-fueled power stations in Greece ended up representing just 23 percent of the energy mix in October, well below usual levels of around 40 percent.

Power exports up over 800% in June, domestic demand lower

Greece’s electricity exports increased by over 800 percent in June, year-to-year, a development that has been attributed to delayed pricing in the country, which follows the course of the TTF index with a one-month delay, a latest monthly report released by power grid operator IPTO has shown.

The country’s electricity exports to Balkan markets through grid interconnections grew by 805.86 percent in June, reaching 351 GWh from just 39 GWh in the equivalent month a year earlier.

Trading companies took full advantage of the country’s pricing latency to offer highly competitive electricity prices in neighboring markets.

Despite the sharp increase in electricity exports, Greece remains a bigger importer. The country’s electricity imports in June totaled 509 GWh, roughly 25 percent lower than the amount recorded in the previous month.

Greece’s electricity imports exceeded exports by 158 GWh in June, well below the 490 GWh figure recorded in June, 2021.

This trend explains why domestic electricity production rose sharply, to 4,154 GWh, up 15.02 percent compared to a year earlier. This figure is almost at par with total domestic demand, at 4,313 GWh.

Electricity demand in Greece fell for a third month running in June, down 1.22 percent, year-to-year, a development attributed to higher prices.

 

Bulgaria power imports lower wholesale price, down 12.28%

Wholesale electricity prices in the Greek energy exchange’s day-ahead market have plunged by 12.28 percent, driven down by electricity imports from Bulgaria, following a continual price surge over five consecutive days.

Even so, Greece’s wholesale electricity prices levels are the third highest in Europe. Day-ahead market transactions in today’s day-ahead market will average 250.22 euros per MWh, down from 285.24 euros per MWh a day earlier.

Significant price reductions were also registered throughout Europe, suggesting that a de-escalation process could now be underway following alarm in markets prompted by a sharp drop in temperatures in central and western Europe, as well as windless conditions that restricted wind energy production.

Winds have now lifted, offering increased wind energy contributions to the EU energy mix, which has led to big price reductions in day-ahead markets. Wholesale electricity prices in Belgium and Germany fell by 10 and 22 percent, respectively, and dropped nearly 9 percent in France and by more than 12 percent in Italy.

The plunge in Bulgaria reached 22 percent to 217.25 euros per MWh. This sharp drop in the neighboring market has helped reduce the overall cost of Greece’s energy mix as a result of lower-cost electricity imports from Bulgaria.

For today’s trading, electricity imports constitute 13.42 percent of Greece’s energy mix, renewable energy accounts for 28.31 percent, and natural gas-fueled generation represents 47.24 percent of the mix.

 

 

Authorities confident of energy sufficiency this winter

Energy authorities are confident the country is sufficiently equipped to meet energy demand this coming winter, suggesting that it would take a perfect storm, or combination of a number of unfavorable factors, to cause problems.

Energy minister Kostas Skrekas chaired a meeting earlier this week for an update on the winter preparations from officials at power grid operator IPTO, gas grid operator DESFA, as well as RAE, the Regulatory Authority for Energy.

An extremely cold winter would need to be combined with a sharp rise in electricity demand in neighboring countries, technical issues at Greece’s lignite-fired power stations, subdued RES participation due to weather-related conditions, electricity import difficulties and low water reserves at the country’s hydropower facilities for an energy shortage, authorities have suggested.

At this stage, the country’s natural gas-fueled power stations are running smoothly, but their rising operating costs are a concern.

Greece’s lignite-fired power stations do face occasional technical issues as their maintenance is nowadays less thorough in anticipation of a full withdrawal of these units by the end of 2023 as part of the country’s decarbonization plan.

Hydropower, RES units and electricity imports are all variable factors. The contributions to the grid of the first two depend on weather conditions, while electricity imports will depend on how Greece’s wholesale electricity prices compare with those of neighboring countries. If prices are relatively higher in Greece, the country will import. If price levels here are lower, electricity will be exported.

Wholesale electricity prices ease as RES input increases

Wholesale electricity price levels are expected to drop to an average of 130 euros per MWh in the day-ahead market today, down 20 percent compared to yesterday, a de-escalation attributed to increased RES input, the energy exchange has informed.

Stronger winds have been forecast, increasing the generation potential of wind energy units.

The maximum price in the day-ahead market today is expected to reach 186 euros per MWh and the minimum price will be 92 euros per MWh.

Natural gas-fired power stations are scheduled to contribute the lion’s share, 40 percent, of the day’s electricity needs, renewable energy sources will contribute 24 percent, electricity imports and lignite-fired power stations will each provide 15 percent, while hydropower facilities will contribute 6 percent.

Electricity demand for the today is forecast to drop by 2.5 percent compared to yesterday.

 

 

Imports, lignite, technical issue avoidance key to grid stability

The role of electricity imports, mobilization of power utility PPC lignite-fired power stations that have been sidelined for months, such as Megalopoli III, and unexpected technical failures at grid infrastructure and power stations are three key factors that will determine the performance of the country’s grid over the next few days, during which the ongoing heatwave conditions are forecast to peak and reach temperatures of as high as 45 degrees Celsius.

Power grid operator IPTO has already asked PPC to mobilize the Megalopoli III power station, a 250-MW unit headed for withdrawal and out of action over the past nine months as a result of grid saturation at the network in the Peloponnese.

But the extreme electricity demand has forced this unit’s return, highlighting the grid’s continuing dependence on lignite-fired generation during times of extreme need.

Over the past few days, lignite-based electricity has represented 16 percent of the country’s overall generation.

As for electricity imports, Greece, ideally, will need to import a few hundred MW from North Macedonia, Bulgaria and Turkey. The import potential from these sources is limited to between 1,400 and 1,500 MW annually.

A new interconnection to link Nea Santa, northeastern Greece, with Bulgaria’s Maritsa area in the country’s south, designed to double the grid interconnection capacity between the two countries, will not be ready before mid-2022.

The demand response system, compensating industrial consumers when the TSO (IPTO) asks them to shift their energy usage (lower or stop consumption) during high-demand hours, so as to balance the electricity system’s needs, is another tool that could be activated to save and re-channel approximately 1,000 MW.

Electricity demand up 7.5% in April, PPC market share steady

Electricity demand registered a sharp 7.5 percent rise in April, compared to the equivalent month a year earlier, driven by the government’s recent decision to ease lockdown measures, power grid operator IPTO’s latest monthly report has shown.

The relaxation of lockdown measures in Greece prompted a milder 1.5 percent increase in electricity demand in March, year-on-year.

On the contrary, electricity demand fell by 2.5 percent over the four-month period covering January to April, compared to the equivalent period a year earlier, according to the IPTO report.

This decline in electricity demand was approximately half the 5.1 percent drop, year-on-year, for the three-month period between January and March.

Electricity generation rose by 24.6 percent in April, compared to the same month a year earlier, according to the IPTO report.

Natural gas-fired power stations led the way, boosting their production by 52.4 percent, followed by lignite-fired power stations, whose output rose by 21.8 percent, RES units, increasing their generation by 5.8 percent and hydropower stations, which registered a 3.1 percent increase.

In terms of energy-mix shares, the pivotal role of natural gas-fired generation was once again made clear. It captured a 43 percent share of the energy mix in April, followed by the RES sector, capturing 36 percent, lignite with 11 percent, hydropower with 6 percent and electricity imports at 5 percent.

Power utility PPC’s share of electricity demand remained virtually unchanged for a third successive month in April, registering 65 percent, following a 64.8 percent share in March and 65.1 percent share in February.

Protergia, a member of the Mytilineos group, the frontrunner among the independent suppliers, was the only company to increase its market share in April. It rose to 8.2 percent share from 7.95 percent a month earlier.

Heron’s share was steady at 6.3 percent from 6.29 percent in March. Elpedison’s share experienced a mild drop to 4.72 percent from 4.88 percent. NRG’s share in April was unchanged at 3.99 percent, while Watt & Volt’s share slipped marginally to 2.44 percent from 2.58 percent.

Electricity market shares unchanged in March, imports up

The overall market share of independent electricity suppliers remained unchanged at 34.2 percent in March, without any surprise reshuffling between these suppliers, as power utility PPC held on firmly to its previous month’s 65.8 percent share, a latest monthly report issued by the Greek energy exchange has shown.

Like PPC, the market shares of some independent suppliers remained unchanged in March, compared to the previous month, the report showed.

Mytilineos registered a 7.97 percent market share in March, unchanged from February.

Heron’s market share fell marginally to 6.34 percent in March from 6.38 percent in February; Elpedison’s market share rose to 4.85 percent from 4.79 percent; NRG captured 4 percent, up from 3.89 percent; Watt and Volt fell to 2.58 percent from 2.73 percent; Volterra registered 1.93 percent, from 1.96 percent; Fysiko Aerio Attikis rose to 1.81 percent from 1.75 percent; Volton captured 1.41 percent, from 1.39 percent; Zenith reached 1.41 percent, from 1.36 percent; ELTA’s market share remained unchanged at 0.63 percent; and KEN fell slightly to 0.56 percent from 0.58 percent.

Electricity imports exceeded electricity exports, in terms of volume, the energy exchange report showed.

Also, the number of hours of net imports grew against the number of hours of net exports, the data for March showed.

PPC gains 3% in retail market for November share of 66.3%

Power utility PPC, the retail electricity market leader, gained an entire three percentage points in November, capturing a 66.33 percent share, up from 63.2 percent a month earlier, according to a latest energy exchange report.

The rankings among the market’s independent suppliers remained unchanged but minor market share gains and losses were reported for the month.

Protergia, a member of the Mytilineos group, shed over half a percentage point, dropping from 8.6 percent in October to 7.99 percent in November, but remained at the forefront among the independent suppliers.

Second-placed Heron also retreated slightly, to 6.55 percent in November from 6.97 percent in October, as did Elpedison, ranked third, to 4.67 percent from 5.05 percent.

Next in the rankings, NRG’s market share remained virtually unchanged, ending November at 3.37 percent from 3.38 percent in October.

Watt+Volt followed with a 2.69 share of the retail electricity market, up marginally from 2.67 percent, Volterra was next with 2.37 percent from 2.55 percent, Fysiko Aerio (Attiki GSC) made a slight gain to reach 1.61 percent from 1.48 percent, Zenith upped its share to 1.26 percent from 1.19 percent, Volton improved to 1.13 percent from 1.04 percent, and KEN remained virtually unchanged, at 0.59 percent from 0.6 percent.

Electricity exports increased and imports decreased in November, compared to a month earlier, the energy exchange data showed.

PPC’s business plan for 2021 to 2023 projects a reduction in customers from 6.1 million, last September, to 4.7 million, for a market share of 54 percent.

Local gas-fueled generation up in response to high-cost power imports

Higher electricity prices in neighboring countries, increasing the cost of electricity imports, have prompted power utility PPC to capitalize on the situation and operate its gas-fueled power stations at maximum capacity for satisfactory market prices.

In recent days, PPC’s natural gas-fueled units have covered between 35 and 40 percent of electricity demand.

Yesterday, the power utility’s gas-fueled power stations covered 40 percent of electricity demand at a price of 42.6 euros per MWh for ten hours.

Independent producers covered 19 percent of electricity demand at a price of 64.4 euros per MWh for one hour.

Electricity imports covered 14 percent of electricity demand for a price of 51.7 euros per MWh over 11 hours.

Renewable energy sources covered 24 percent of electricity demand yesterday, while the decreased lignite input continued on its downward trajectory, contributing 3.6 GWh.

In Bulgaria, the wholesale electricity price was 53.14 euros per MWh. In Italy, it was 51.93 euros per MWh. Romania registered a price level of 51.7 euros per MWh. The price in Serbia was 49.91 euros per MWh.

PPC power demand coverage down to 36.8%, lignite savings

Power utility PPC’s lignite-fired electricity production plunged 70 percent in the second quarter of 2020, its generation covered just 36.8 percent of overall electricity demand in the first half, while the corporation’s retail electricity market share has contracted to 69.9 percent, first-half company results have shown.

These shifts highlight the major changes occurring in Greece’s energy market – in terms of energy mix and retail competition.

PPC’s retail electricity market share drop to 69.9 percent followed a 77 percent share reported for the equivalent period a year earlier.

Electricity demand fell just 1.7 percent in the first quarter before sliding 12.7 percent in the second quarter, the PPC results showed.

A significant part of the corporation’s recurring EBITDA figure of 457.3 million euros reported for the first half was attributed to the utility’s diminished reliance on lignite-fired generation, until recently Greece’s dominant energy source. PPC’s lignite units have been kept shut or used minimally, saving the corporation from losses.

However, this is one side of the story for PPC. The company’s reduced reliance on lignite may be saving the power utility considerable amounts, but its coverage of overall electricity demand has dropped to 36.8 percent in the first half, from 46.9 percent in the first half last year. Gas-fired and hydropower generation have been low.

This downward slide at PPC is expected to continue until the corporation’s green energy output rises to between 2,000 and 3,000 MW, a level that would take the company into a new era. A period of at least two to three years will be needed before this can be achieved.

The pandemic and its downward pressure on energy price levels has helped PPC. Company outlays for fuels, natural gas, CO2 emission rights and electricity purchases fell by 33.7 percent, or 561.3 million euros, in the first half, compared to the equivalent period a year earlier.

PPC saved 95 million euros on fuel costs, 110.2 million euros on natural gas costs, approximately 80 million euros on CO2 emission rights, and 260.2 million euros on electricity purchases, the first half results showed.

Energy products may rebound in the second half, meaning PPC has no other choice but to accelerate its foray into the RES sector.

Despite the encouraging first-half results, there is no room for complacency, PPC’s chief executive Giorgos Stassis stressed.

 

 

PPC CO2 emissions down 71.1%, lignite-fired output fades

Power utility PPC’s CO2 emissions plunged 71.1 percent in the first half, from 1.97 million tons in January to 568,900 tons in June, reflecting the significantly diminished role of lignite in generation.

Lignite’s dominant energy mix role has been taken over by natural gas, supported by rising RES output and electricity imports.

Lignite-based electricity generation slid for most of the six-month period between January and June, dropping to 1.41 million tons in February, 882,240 tons in March, 730,970 tons in April and 564,900 tons in May before edging up to 568,900 tons in June.

CO2 emission right costs have been on an upward trajectory over the past couple of months, rising well over customary levels of about 20 euros per ton to reach as high as 29.66 euros per ton. Current levels appear to have stabilized at between 26 and 27 euros per ton.

Despite these higher CO2 emission right price levels, PPC’s operating costs are not expected to rise as a result of its big cutback on lignite-fired production.

PPC’s share of overall electricity production is projected to keep falling as independent producers and traders move in to fill the lignite void through natural gas and RES generation, plus electricity imports.

Low-cost gas driving down wholesale electricity prices

The abundance of low-cost natural gas, enabling electricity producers operating gas-fired power stations to offer extremely competitive prices, is reshaping the wholesale electricity market.

Highlighting this development, the average level of the System Marginal Price, or wholesale electricity price, today, a day of strong demand, is expected to be contained below 40 euros per MWh, at 39.551 €/MWh.

Today’s electricity demand is expected to peak over 8.3 GW with total consumption reaching 168,674 MWh. The wholesale price during the peak hours will not exceed 38.850 €/MWh.

The market conditions for today are not an isolated incident but part of a wider trend that has developed during the week.

Yesterday’s average SMP was just 35.961 €/MWh despite a peak of 8,105 MW and total electricity consumption of 162,777 MWh.

On Wednesday, when demand peaked at 8,072 MW and overall consumption totaled 162,492 MWh, the SMP was 39.243 €/MWh.

The SMP exceeded the 40 €/MWh level just once this week, on Tuesday, reaching 40.689 €/MWh, a day whose peak was below 8000 MW.

The week started with Monday’s SMP average at 39.277 €/MWh, a lower peak of 7,649 MW, and total consumption for the day of 152,716 MWh.

SMP prices have been falling to even lower levels during weekends. Last Sunday, the average SMP was just 30.629 €/MWh with the peak down to 6,370 MW and the day’s consumption at 134,563 MWh.

The grid relied on just one lignite-fired power station, Agios Dimitris III, last Sunday. Demand was primarily covered by gas-fired generation, as well as renewable energy sources, hydropower units and electricity imports.

Power demand dives 14.61% in June as tourism slumps

Electricity demand slumped 14.61 percent in June, compared to a year earlier, despite the month’s lifting of lockdown measures, latest Greek energy exchange figures have shown.

June’s drop in power demand, attributed to the unprecedented decline in tourism activity, was even bigger than the declines registered in April and May, 13 percent and 9 percent, respectively.

Numerous hotels and other tourism industry units have not opened for business. Also, flight bans were essentially not lifted until the beginning of this month.

Responding to the drop in electricity demand, energy producers have restricted output by 16 percent.

Natural gas and renewables dominated electricity generation in June. Natural gas-fueled generation covered 36.56 percent of demand, while RES production covered 26.43 percent, the energy exchange’s June report showed. Electricity imports covered 23.93 percent, hydropower 7.43 percent and lignite-fired production 5.64 percent.

 

 

Natural gas, electricity imports most influential for Greek SMP levels

Natural gas and electricity imports are playing an increasingly important role in shaping System Marginal Prices, or wholesale prices, while the influence of more traditional energy sources is waning, latest monthly data provided by the Greek energy exchange has shown.

Natural gas’s influence on SMP levels grew between January and May this year, compared to other fuels and electricity imports and exports, the data showed.

Throughout the five-month period, natural gas-fueled power stations consistently ranked first in number of hours used for SMP levels, peaking in May with 491 hours. Electricity imports consistently followed as a the second most influential factor for all five months.

Lignite-fired power stations, previously a key factor for SMP levels, are now limited to a marginal role, their lowest contribution, one hour in an entire month, recorded in April, the January-to-May figures showed.

Greece’s international grid interconnections are playing an increasingly influential role in shaping the country’s SMP as well as covering energy demand, the data showed.

Power grid operator IPTO has increased capacities for electricity imports via Greece’s grid interconnections in the north.

Natural gas provides half of domestic generation in May, RES also on the rise

Natural gas’ share of overall electricity generation in Greece reached 50.1 percent in May, a 29 percent increase compared to the same month a year earlier, highlighting that the country’s energy transition is well and truly in motion.

Renewable energy output is also on the rise, increasing by 30 percent between May this year and last May.

On the contrary, lignite-fired electricity production plummeted 87 percent year on year.

Gas-fueled power station generation covered 38.5 percent of the grid’s needs in May, RES production captured a 29.62 percent share, electricity imports contributed 23.14 percent, hydropower output provided 6.07 percent and lignite units just 2.66 percent.

In the RES sector, wind energy led the way with a 49.82 percent share of this sector’s grid contribution in May, solar energy followed with 40 percent, small-scale hydropower facilities were next with 4.68 percent, biomass-biogas was represented with a 3.68 percent share, and CCHP (combined cooling, heat and power) with 1.81 percent.

Electricity imports and exports are an emerging sector with an increasingly important role in balancing national grids, a prospect that is attracting market players, data covering the year’s first five months has shown.

Electricity imports into Greece via the interconnection shared with Italy captured a 42.38 percent share of overall imports in May, a sharp rise from the previous month’s 32.35 percent share through this link.

Electricity imports from Bulgaria fell to 8.38 percent of the overall amount in May from 23.1 percent in April. Minor changes, between April and May, were registered for Greek imports from interconnections with Albania, North Macedonia and Turkey.

Greek electricity exports to Italy fell sharply to 7.56 percent of the overall total in May from 49.51 percent in April.

The country’s electricity exports to Turkey and Bulgaria rose significantly. Exports to Turkey represented 39.47 percent of Greek power exports in May, up from 17.38 percent a month earlier. Electricity exports to Bulgaria represented 25.69 percent of Greece’s total in May, much higher than April’s 6.17 percent through this interconnection.

 

Wholesale electricity prices rising, up to €47.30/MWh today

Wholesale electricity prices, determined by the System Marginal Price, are rebounding following a significant drop over the past few weeks.

The rise is being fueled by an anticipated increase in demand. A sidelined 600-MW line linking Greece with Bulgaria, depriving the system of electricity imports via this route, as well as a disruption in operations at an Elpedison power plant in Thessaloniki are two other contributing factors.

In addition, the Revythoussa LNG terminal just off Athens is not under any pressure, a factor subduing gas-fired unit bids and subsequently lowering the SMP.

Based on grid orders placed for today, the SMP has climbed to 47.30 euros per MWh, up from a level of around 30 euros per MWh five days earlier and 14.20 euros per MWh on May 1. Bidding by units has gradually risen since early May.

Demand, today, for domestic consumption and exports is estimated to reach 127 GWh, 40 percent of which is planned to be covered by natural gas-fired power stations, 30 percent by RES and hydropower plants, 23 percent by electricity imports, and 7 percent by lignite-fired power stations.

The SMP level will be determined by gas-fired power stations for 22 hours today, lignite-based generation will shape the price for one hour and imports for the remaining hour.

Electricity imports up, gas-fueled power stations running non-stop

A significant drop in gas prices, especially LNG, as well as the availability of particularly lower wholesale electricity prices in neighboring countries have prompted major changes to the country’s Day Ahead Schedule.

Electricity imports via interconnections with Bulgaria, Italy, North Macedonia and Turkey have risen to represent just under 30 percent of overall consumption.

Demand for an even greater level of imports during certain time periods has not been met as a result of infrastructure capacity limits.

Renewable energy generation, also making considerable contributions to the grid’s needs, has, at times, exceeded 30 percent of total consumption.

Gas-fueled power stations operated by independent producers are now operating around the clock, not just during peak hours, as had previously been the case. Offers by these units are now very competitively priced.

Gas-fueled power stations are currently covering over 30 percent of total consumption and lowering wholesale prices.

On the contrary, power utility PPC’s production is covering smaller amounts of daily electricity consumption. The utility’s contribution, currently slightly over 10 percent, primarily stems from its lignite-fired power stations.

Domestic natural gas consumption strikes new high of 290,000 MWh

Natural gas consumption in Greece struck an all-time high yesterday to reach 290,000 MWh from a previous high of 260,000 MWh set in 2017. The new record was driven by full-capacity operations of electricity producers and natural gas companies.

Gas consumption is expected to remain high today, estimates putting the figure at 270,000 MWh.

Energy market authorities have assured the country does not face any energy security concerns, noting the important sufficiency roles played by the Revythoussa LNG terminal’s increased gasification capacity and the increased ability of the Kipous gas grid interconnection in Evros, at Greece’s northeastern tip, to cover the country’s needs through inflow measuring 48,000 MWh per day.

Despite the reassurances, Greece’s grid has been stretched to its limits over the past couple of days. The country’s lignite and natural gas-fueled power stations have needed to operate at full capacity to meet the elevated electricity demand – along with crucial hydropower, electricity import and RES injections during peak hours.

Highlighting the system’s strain, the main power utility PPC’s lignite-fired power station, still operating despite the expiration of a European Commission time limit, is among the facilities contributing to cover the higher electricity demand.

 

Expired Amynteo, RES units, imports vital for grid sufficiency

Renewable energy output, electricity imports and the main power utility PPC’s lignite-fired Amynteo power station, still operating despite the expiration of a European Commission time limit, are all proving crucial for the system’s sufficiency amid the high demand prompted by freezing weather conditions around Greece over the past few days.

All available energy sources are being resorted to in an effort to cover the  elevated demand. Hydropower output, electricity imports and RES production are providing vital energy injections during peak hours, which once again, once again highlighting the fact that the Greek system is stretched to its limits under such conditions.

The situation validates a recent IPTO power grid operator study noting grid sufficiency is presently not achievable without grid contributions from PPC’s Amynteo unit as well as the power utility’s Kardia facility, headed for closure.

Virtually all the country’s thermal power stations will be operating to meet a demand peak of 9,024 MW at 1pm today, according to the energy exchange’s day-ahead market figures. State-controlled PPC’s Agios Dimitrios IV and V, the Kardia unit, two Megalopoli units, two Amynteo units, Meliti, as well as private-sector gas-fired power stations operated by Heron, Enthes, Thisvi, Protergia and Korinthos Power will all be called into action.

Even so, 1,914 MW in RES production, 44 MW in net imports as well as 140 MW of hydropower production will also be needed to meet demand.

The System Marginal Price (SMP), or wholesale electricity price, is set to reach 82.52 euros per MWh during peak demand.