The country’s day-ahead market took a further step away from the energy crisis in March, price levels falling considerably, both year-to-year and compared to the previous month, the Hellenic Energy Exchange’s monthly report has shown.

The Greek wholesale electricity market’s DAM averaged a price level of 122.76 euros per MWh in March, down by 21.4 percent compared to February, when it ended the month with an average of 156.24 euros per MWh.

Local DAM prices peaked at 272.68 euros per MWh in March, 2022, when Russia’s war on Ukraine began to impact wholesale electricity and gas markets throughout Europe, and have since fallen by 55 percent.

Despite this price de-escalation, levels remain well above pre-energy crisis levels. In March, 2021, for instance, the wholesale electricity price in Greece averaged 57.64 euros per MWh, less than half the current level.

As for the country’s energy mix, renewables were ranked the most dominant contributor for yet another month in March, contributing 35 percent. Electricity imports were sizeable in March, covering 23 percent of the energy mix, the equivalent contribution of natural gas. Lignite was ranked fourth with a 13 percent share contribution to the Greek energy mix last month, the Hellenic Energy Exchange report showed.

In the retail electricity market, power utility PPC, the dominant player, experienced a market-share contraction in March to 61.53 percent from 63 percent, a loss gained by the independent suppliers.

Heron established itself as the new market leader among the independent electricity suppliers in March, capturing a 7.53 percent share, up from 7.24 percent. Mytilineos slipped to second place with 7.47 percent, down marginally from 7.49 percent, while Elpedison followed with 6.07 percent, up from 6 percent.

The list of top ten electricity retailers in Greece was completed by NRG, capturing 5.14 percent, up from 4.85 percent; Aerio Attikis, at 3.15 percent from 2.97 percent; Watt & Volt, 2.78% (2.08%); Volterra, 2.09% (1.92%); Zenith, 2.02% (2.14%); and Volton, 0.87% (0.98%).