hydropower

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.

New RES units total 1.5 GW over just 5 months; NECP target exceeded

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Renewable energy facilities representing a capacity of 1.5 GW were launched over a period of just five months between early June and November last year, data provided by power grid operator IPTO data has shown.

RES facilities in operation totaled 12.2 GW in early November, 2023, up from 10.65 GW in early June, 2023, the IPTO data showed.

The November tally included 5.06 GW in wind farms and 6.55 GW in solar energy farms. As had been anticipated, solar energy farm launches recorded a bigger increase, which reached 1.28 GW, compared to five months earlier.

Wind farm capacity growth recorded a more modest rise of 261 MW. The remaining 35 MW in increased RES capacity resulted from biomass-biogas, small-scale hydropower and CHP installations.

RES facilities possessing connection terms totaled roughly 15.5 GW in November, 2023, which, combined with 12.2 GW in RES facilities already operating by that month, results in an overall RES portfolio capacity of 27.7 GW.

This figure greatly exceeds the country’s 2030 target for installed RES capacity, set at 23.5 GW in the revised National Energy and Climate Plan.

 

North Macedonia universal supply tender a battle for EDS

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EDS, a subsidiary of Greek power utility PPC, appears set to face strong competition in a tender offering a contract for North Macedonia’s universal electricity supply.

At least five more bidders have expressed interest in the tender ahead of tomorrow’s bidding deadline, sources have informed.

EDS, strongly supported by parent company PPC, intends to submit a highly competitive offer that would greatly undercut an 11.5 percent profit margin maintained by North Macedonia’s current universal electricity supplier, Austrian company EVN. It remains to be seen if rival bidders will do likewise.

Bidders face stricter participation terms in this tender compared to the previous procedure, staged five years ago. These include a working capital requirement of 40 million euros, a condition that could trouble EDS, as noted by officials in the neighboring country.

EDS, in a company statement released just days ago, has denied requesting changes to the tender’s terms, noting it intends to participate with a highly competitive offer significantly reducing the existing contract’s profit margin to the benefit of end users.

PPC and construction firm Archirodon, the only bidders in a tender staged by the North Macedonian government for the construction and operation of a 333-MW Cebren hydropower plant at the Crna Reka river, in the country’s southwest, and operation of an existing 116-MW Tikves hydropower station, also at this river, were initially announced  winners, but the tender ended up being cancelled.

RES project grid applications reach unrealistic level of 42 GW

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RES project applications being submitted to power grid operator IPTO by investors, for grid capacity reservations, have continued at an alarming rate, resulting in an enormous and unrealistic wave of applications representing a total of roughly 42 GW, energypress sources have informed.

The applications concern more than 1,700 prospective RES units holding either producer certificates or production licenses and representing an overall capacity of 34.1 GW, as well as group applications representing 7.9 GW in prospective RES units, the sources noted.

In addition to these grid capacity-reservation applications totaling 42 GW, 15 GW in RES units currently under development have received finalized connection offers, while 10.6 GW in RES units are operating, according to IPTO’s updated ten-year development program covering 2024 to 2033.

This essentially means that RES projects representing an overall capacity of 67.6 GW have either secured grid reservations or submitted applications for reservations.

Quite clearly, a large number of the 42-GW in RES projects for which grid-reservation requests have been submitted will not be developed. The upgraded National Energy and Climate Plan for 2050 has set a 54.4-GW target for installed capacity covering photovoltaics, onshore wind farms, combined cooling, heat and power (CCHP) projects, biomass-biogas plants, and small-scale hydropower plants.

 

Electricity producers’ payment upper limit now lifted

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Remuneration upper limits imposed on all electricity producers as one of a number of emergency measures implemented by authorities during the energy crisis have just been lifted, effective as of January 1, a move representing a significant step in the wholesale electricity market’s return to normality.

In the retail electricity market, subsidies offered to all consumers during the energy crisis were also lifted with the arrival of the new year.

The government introduced remuneration upper limits for electricity producers on July 7, 2022, at the height of the energy crisis, as a tool for recovering windfall profits, which were injected into the Energy Transition Fund to finance electricity subsidies offered by the state to all consumers.

A preceding remuneration system for electricity producers, introduced as part of the target model, has now been reinstated in place of the upper limits. A marginal price model, it sets payment levels for electricity producers based on the highest-price production unit brought into play every day.

Under the emergency measure imposing remuneration upper limits, all electricity producers, regardless of technology, were subjected to payment restrictions that took into account respective operating costs.

RES facilities faced a remuneration upper limit of 85 euros per MWh, while hydropower units were subjected to a payment limit of 112 euros per MWh. The remuneration upper-limit for natural gas-fueled power stations was revised monthly so that wildly fluctuating factors such as emission right costs and natural gas prices could be factored in.

The next and final step for the wholesale electricity market’s complete return to normality entails lifting an extraordinary levy imposed on natural gas used for electricity production. The energy ministry has noted it intends to proceed with this step early in 2024. However, a legislative revision by the ministry will be needed.

 

North Macedonia gov’t holds back on hydropower plant deal

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The North Macedonian government’s apparent reluctance to complete an agreement with a consortium comprised of Greek power utility PPC and construction firm Archirodon for the development of the prospective Cebren hydropower plant, at the Crna Reka river, despite cabinet approval in September, has prompted various officials to suspect the neighboring country’s administration is seeking to put a brake on the agreement.

The North Macedonian government has been calling for additional terms, while, in most recent statements, Kaja Sukova, its environment and physical planning minister, suggested the consortium would be to blame if the agreement were not completed.

The consortium is raising objections about terms being discussed, while the deadline for completing the agreement has already been extended to mid-January, the minister noted.

The dispute concerns the ordering of the project’s concession contract and issuance of a water-usage permit. Archirodon wants the concession contract to precede the permit procedure, whereas the North Macedonian government is pushing for the opposite.

PPC and Archirodon submitted the only complete offer to a tender staged by the North Macedonian government for the construction and operation of the 333-MW Cebren hydropower plant and operation of an existing 116-MW Tikves hydropower station, also at the Crna Reka river, in the country’s southwest.

The Cebren hydropower plant, expected to offer annual electricity output of between 1,000 and 1,200 GWh, is planned to involve the neighboring country’s state-owned power producer ESM as a minority partner with a 33 percent stake. The project’s cost is estimated to reach one billion euro.

A total of 13 previous tenders held since 2006 for the Cebren hydropower plant have all proved fruitless. North Macedonia is entering an election year, increasing fears of further ambiguity regarding the project agreement’s prospects.

Wholesale power price drop recorded on Christmas Day

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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.

 

Revised NECP sets more ambitious targets for 2030

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Greece’s revised National Energy and Climate Plan, forwarded to the  European Commission and published on its website, sets new 2030 targets of 23.5 GW for all forms of renewables, 5.3 GW in energy storage, 7.7 GW in natural gas-fueled power stations, zero lignite presence, as well as a fleet of 460,000 electric vehicles.

In the RES sector, the country’s new NECP sets goals for 2030 of 9.5 GW in wind energy capacity, including 1.9 GW in offshore wind farms; 13.4 GW in solar power capacity; and 0.6 GW in other RES technologies.

Onshore wind farm capacity is planned to expected to increase by 12 GW between now and 2030, from 11.5 GW at present to 23.5 GW in 2030. The 2030 capacity goal for hydropower plants has been set at 3.8 GW.

The energy storage goal of 5.3 GW is expected to consist of 3.1 GW in batteries and 2.2 GW in pumped-storage hydropower stations.

Total annual electricity production is expected to reach 64.6 TWh in 2030, while electricity imports are forecast to be slashed to no more than 3 percent of Greece’s overall electricity generation, according to the revised NECP.

Renewables are planned to represent 44 percent of energy consumption by 2030, up from 35 percent in the previous NECP. Also renewables have been set an objective to contribute 80 percent of electricity production by 2030, significantly higher than the current NECP’s level of 61 percent, and close to 95 percent from 2035 onwards.

The revised NECP includes a zero-carbon emissions target in electricity generation from 2035 onwards.

Carbon emissions have already dropped significantly in 2023 as a result of the withdrawal of lignite-fired power stations.

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.

 

PPC-Archirodon’s Cebren hydropower project given gov’t approval

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The North Macedonian government’s cabinet has approved the prospective Cebren hydropower plant, at the Crna Reka river, a project awarded to Greek power utility PPC and construction firm Archirodon, in partnership for its development.

PPC and Archirodon submitted the only complete offer to a tender staged by the North Macedonian government’s environment ministry for the construction and operation of the 333-MW Cebren hydropower plant and operation of an existing 116-MW Tikves hydropower station, also at the Crna Reka river, in the country’s southwest.

The Cebren hydropower plant, planned to offer annual electricity output of between 1,000 and 1,200 GWh, will involve the neighboring country’s state-owned power producer ESM as a minority partner with a 33 percent stake. The project’s cost is estimated to reach one billion euro.

The PPC-Archirodon consortium must establish an agreement with ESM within three months, before beginning work on the project, expected to take seven years. The consortium also needs to complete a relevant study and secure necessary permits.

A total of 13 previous tenders held since 2006 for the Cebren hydropower plant had all proved fruitless.

Wholesale electricity price falls sharply over the weekend

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The price of wholesale electricity plunged over the weekend, driven lower by an increase in RES output.

Yesterday, wholesale electricity fell to an average price of 53.30 euros per MWh, while, for a five-hour period between approximately 10 am and 3 pm, the price level reached zero, according to energy exchange data. The day’s maximum price level peaked at 120 euros per MWh.

Yesterday’s price level fell by 10.63 percent compared to Saturday’s 59.65 euros per MWh, which, in turn, was 25.30 percent below Friday’s level of 79.85 euros per MWh.

Today’s average wholesale electricity price is 95.18 euros per MWh, with the day’s peak at 153 euros per MWh and the minimum at 59 euros per MWh. Demand for the day is at 160 GWh.

The RES sector is programmed to be today’s biggest contributor with a 47.4 percent share of the energy mix, followed by gas-fueled production, at 22.7 percent, electricity imports at 12.4 percent, hydropower at 7.4 percent, and lignite-fired output, representing 6 percent.

 

Installed RES capacity reaches 11,284 MW in June

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Installed RES capacity reached a total of 11,284 MW in June, according to a latest report published by DAPEEP, the RES market operator.

Solar energy installations, at 5,788 MW, represent this total’s biggest share, followed by wind turbines, at 4,828 ΜW, hydropower, at 280 MW, biomass, at 131 MW, and combined cooling, heat and power (CCHP) units, at 255 MW.

As for the share of RES production by these technologies, 52.7 percent of output in June was provided by photovoltaics, 34.3 percent by wind turbines, 2.5 percent by roof-mounted solar panels, 4.6 percent by small-scale hydropower units, 3.1 percent by biomass-biogas units, and 1.6 percent by CCHP units.

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.

RES project additions total 320 in first four-month period

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A total of 320 new RES projects were connected to the grid during the year’s first four-month period, increasing the number of active links to 19,182, up from 18,862 at the end of 2022, a new report released by DAPEEP, the RES market operator, has shown.

Active contracts are estimated to offer a total capacity of 10.14 GW for a production level of 1.55 TWh, while the net value of contracts is worth 144.5 million euros.

DAPEEP divides RES projects into two sections, one for projects activated prior to January 1, 2021, and the other for newer projects activated beyond this date.

The portfolio of projects activated prior to January 1, 2021 consisted of 18 fewer projects at the end of April, down to 15,332, from 15,350 last December, the DAPEEP report showed. These withdrawals are either RES projects seeking market alternatives following the expiry of contracts with DAPEEP or projects that have stopped operating.

On the contrary, the number of projects activated from January 1, 2021 onwards increased to 3,850 in April from 3,512 last December, the DAPEEP figures showed.

The country’s overall green-energy capacity totals 10.5 GW, led by solar energy farms, totaling 5.1 GW, followed by wind energy farms, at 4.5 GW, roof-mounted PVs, at 371 MW, small-scale hydropower units, offering 267 MW, biogas-biomass units at 115 MW, and combined cooling, heat and power (CCHP) projects at 122 MW.

Until April, 2023, wind farms held the biggest share of the country’s green energy production, reaching 45.97 percent, followed by PVs, with 43.37 percent, small-scale hydropower units, with 4.29 percent, biogas, with 2.97 percent, roof-mounted PVs, with 1.73 percent, and CCHP units, with 1.61 percent.

 

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.

 

Wholesale electricity prices drop to 103-week low

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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%).

 

 

Elevated reservoir levels offer positive outlook for summer

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The country’s grid is entering the summer in sound shape regarding energy sufficiency, aided by the absence of issues at main power plants, an accumulation of lignite stockpiles at power plant yards and mines, the imminent addition of 1,500 MW in July, when two new power plants developed by the Mytilineos group and power utility PPC begin operating at full scale, and, above all, abundant water levels at hydropower facilities.

Reservoir water levels, usually the biggest concern for the power grid operator at this time of the year, are above last year’s level and currently offer 3,000 GWh compared to 2,940 GWh a year ago.

This rise is the result of increased rainfall in May and early June, as well as the operation of power utility PPC’s pumped-storage facilities at two dams, Sykia (Haliacmon river) and Thisavros (Nestos river).

Pumped-storage facilities operate as hydroelectric energy storage, based on a configuration of two water reservoirs at different elevations that can generate power as water moves down from one to the other, passing through a turbine. The system also requires power as it pumps water back into the upper reservoir.

The news is also favorable in terms of wholesale electricity prices, currently down to a two-year low. Wholesale electricity was priced at 83 euros per MWh in June, 2021, skyrocketed as high as 436 euros per MWh in August, 2022, and has now fallen, between June 1 and 6, to an average price of around 80 euros per MWh.

It still remains unclear if such a low level can be maintained throughout June. Cool early-summer weather conditions at present are helping subdue electricity demand and, in turn, keeping wholesale electricity prices down.

Energy sufficiency safe for summer, operators inform

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The energy sector’s market operators are confident the country faces no energy insufficiency issues going into summer, their optimistic outlook shaped by satisfactory hydropower station reservoir levels, maintained at last year’s levels, ample lignite stockpiles, as well as a bigger-than-ever addition of new RES units to the grid this year.

Moreover, the Mytilineos group and power utility PPC plan to fully launch new power stations over the next couple of months, to result in an extra capacity of 1,500 MW.

At a meeting yesterday, market operators informed RAAEY, the Regulatory Authority for Waste, Energy and Water, of their positive outlook for summer, after having already updated the caretaker government’s energy minister Pantelis Kapros.

Hydropower station capacity currently stands at 2,800 MW, RES unit additions offer 1 GW, lignite stockpiles exceed 3 million tons, while the 1,500 MW to be offered by the imminent arrival of the Mytilineos group and PPC power stations will further reinforce the country’s energy sufficiency.

Market operators and RAAEY held yesterday’s meeting to discuss moves already made, outstanding action still needed to fully protect the grid going into summer, and to resolve any pending energy-related issues concerning the Greek islands, where demand multiplies due to tourism activity.

Caretaker energy minister confident all is in place

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The caretaker government’s energy minister Pantelis Kapros has assumed his post feeling confident that all has already been put into place by previous officials to ensure energy sufficiency as summer approaches.

His predecessor, Kostas Skrekas, the country’s market operators and power utility PPC have taken all necessary initiatives to ensure energy sufficiency, even under high temperatures.

Kapros, professor of energy economics and operational research at the School of Electrical and Computer Engineering of the National Technical University of Athens (NTUA), has made this confidence clear during a first round of talks with market operators and regulators.

He will remain in charge of Greece’s energy portfolio until a new government is sworn in following a second round of voting, possibly late next month.

Reservoir water levels at PPC’s dams have been maintained at levels comparable to last year, lignite reserves are high, while the number of new RES units connected to the grid this year has reached unprecedented heights.

The country’s hydropower facilities currently offer a capacity of 2,800 to 2,900 MW, lignite stocks measure 3 million tons, and more than 1 GW in new RES unit connections have been made.

Furthermore, two new power stations, a Mytilineos group facility and PPC’s Ptolemaida V, promising an overall capacity of 1,500 MW, are now close to being launched.

EU’s RES installations in ’22 climb to record level

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Wind and solar energy installations reached a record level in the EU last year, adding 57 GW to the continent’s grid, a 16 percent year-on-year rise, according to a European Commission report for the fourth quarter in 2022.

These increased RES installations helped renewable energy capture an increased share of the EU’s energy mix in 2022, rising 39 percent, up from 38 percent in 2021, the Brussels 4Q report showed.

Solar energy output rose by 26 percent in 2022, offering an additional 41 TWh, onshore wind farm generation increased by 10 percent, or 33 TWh, while offshore wind farm production grew by 4 percent, delivering an additional 2 TWh to Europe’s grid.

Solar and wind energy’s combined output in 2022 rose by 14 percent, offering an additional 76 TWh, according to the report.

Hydropower generation fell by 17 percent, or 61 TWh, as a result of dominant drought periods in a number of European countries during 2022.

Nuclear energy generation was also down in the EU last year, falling 17 percent, or 118 TWh, as a result of disruptions and facility maintenance delays in France.

The European Power Benchmark, the continent’s average wholesale baseload electricity price, rose 121 percent in 2022 compared to a year earlier, reaching 230 euros per MWh, the 4Q report showed.

Italy recorded Europe’s highest average wholesale electricity price in 2022, at 304 euros per MWh, followed by Malta, at 294 euros per MWh, Greece, at 279 euros per MWh, and France, at 275 euros per MWh, the European Commission report noted.

IPTO confident of energy sufficiency this coming summer

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Greek power grid operator IPTO, contrary to officials in other parts of Europe fearing drought periods will affect their electricity sufficiency, is confident current local conditions are favorable enough to get the country through the high-demand summer season.

Reservoir water levels at Greek power utility PPC’s hydropower facilities have just about been maintained at last year’s levels, more RES units have been connected to the grid this year than ever before, while the country’s lignite stocks are also currently high, at three million tons, following a concerted energy-crisis effort made since last year.

In addition, Greece’s grid is set to be reinforced, within the next couple of months, by the addition of two new power stations – a Mytilineos group unit and PPC’s Ptolemaida V – to offer an extra generation capacity of 1,500 MW.

Reservoir water levels at PPC’s hydropower plants currently offer 2,720 MW and are expected, over the next few days, to rise to 2,850 MW, levels recorded last year, primarily as a result of increased flow at northern Greece’s Haliacmon river.

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.

 

Hydropower grid input crucial under current conditions

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Greater reliance on power utility PPC’s hydropower plants is proving to be a crucial grid-sufficiency move under the current conditions, combining deeper RES penetration and lower energy demand, a higher-risk situation should demand rise, as is expected in coming days.

According to sources, power grid operator IPTO has called for greater hydropower coverage of the country’s energy mix to secure grid stability. Though this is not a new approach, greater usage of hydropower, an energy source offering flexibility to the system, has been deemed as necessary under the current conditions.

The low-demand period is expected to rise sharply during the Greek Easter break this coming weekend, putting the grid to the test.

However, officials need to carefully manage the country’s hydropower plants so that water levels are kept at satisfactory levels ahead of summer. Rainfall is forecast to be mild over the next month and a half. Current hydropower usage has exceeded levels that had been initially anticipated by PPC, but reservoir levels remain at desired levels, sources informed.

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.

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.

RES generation biggest energy-mix contributor for first time ever in 2022

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Renewable energy was ranked the country’s biggest electricity producer for the first time ever in 2022, capturing a 41.6 percent share of the energy mix for output totaling 19.7 TWh, data provided by power grid operator IPTO has shown.

Natural gas-fueled generation, previously the country’s biggest producer, was ranked second in 2022 with a 38 percent share of Greece’s energy mix and output of 17.9 TWh. It was followed by lignite, once the country’s leading source of electricity production until it was overtaken by natural gas, with an 11.8 percent share and 5.6 TWh. Hydropower ranked fourth in terms of output in 2022, capturing an 8.5 percent share with output totaling 4 TWh.

Combining the energy-mix shares captured by the RES sector and hydropower adds up to 50.1 percent, meaning these two energy source categories edged past fossil fuels as Greece’s main producer of electricity.

Last year, natural gas-fueled generation fell by just over 4 percent compared to 2021, dropping from a leading energy-mix share of 42.8 percent.

All EU member states have set objectives, on a voluntary basis, to reduce natural gas consumption by 15 percent this winter.

In 2021, the RES sector was ranked second in terms of electricity generation in Greece with a 35.3 percent share of the energy mix followed by lignite, whose share hardly changed. Compared to 2022, hydropower output was slightly higher in 2021, when it had captured a share of approximately 11 percent.

 

PPC retail electricity market share at 63.3% in December

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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.

New NECP at Interministerial Committee on Monday

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The revised National Energy and Climate Plan, a strategy of greater ambition aiming for 24 GW in wind and solar energy installations, 4 GW in hydropower and pumped-storage stations, as well as energy storage projects totaling 8 GW, all by 2030, is scheduled to be presented at the Interministerial Committee on Monday.

As a next step, the road map of the NECP, now completed according to energypress sources, will be officially announced by the energy ministry before undergoing consultation.

The RES sector’s share of the energy mix has been increased to 80 percent in the revised NECP, up from a 65 percent target set in the previous edition.

The existing NECP’s RES and hydropower target had been set at 19 GW. The revised version’s target has been boosted to 28 GW.

The RES installation target of 24 GW, it should be noted, includes offshore wind farms of 2 to 2.5 GW, indicating that the NECP is, for the first time, committing to the development of this new green energy technology.

Last year ended with operating wind and solar facilities of 10.2 GW, meaning installations representing a total capacity of 13.8 GW for the two RES technologies will need to be installed over the next eight years if the NECP’s 24-GW target is to be achieved.

December gas energy-mix share up to 43%, RES input falls

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Natural gas usage for electricity generation increased in December to represent 43 percent of the energy mix, up from 37 percent in November.

At 43 percent, natural gas-fueled electricity captured the biggest share of the energy mix in December, followed by renewable energy sources – wind, solar and biomass – at 26 percent, lignite, at 17 percent, net electricity imports, at 10 percent, and major-scale hydropower plants, at 4 percent.

Combing the RES and hydropower contributions, the renewable energy sector’s share of the energy mix in December essentially reached 30 percent.

Natural gas-fueled generation and RES generation reached 1,645,055 MWh and 1,012,485 MWh, respectively, in December, while lignite-fired output for the month totaled 656,157 MWh.

In 2022, overall, natural gas’ share of the energy mix increased by one percent, while the RES sector’s share shrunk by 8 percent.

Energy demand increased in December, reaching 4,013,598 MWh, following four successive months of decline.