Greece with prices of many megawatts
From the printed version
By Lalela Chrysanthopoulou
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The title of the only country in the European Union with an average wholesale price of electricity over 200 euros / MWh (205.72 euros / MWh) is currently held by Greece, as at the time when in most European countries double-digit percentages of reductions are recorded – and by expansion of significant de-escalation of prices-, against the background of the decline of gas prices, in Greece the reduction is limited to 2.6%.
Factors in the energy sector attribute the reduced elasticity of the domestic wholesale market to its structure, but also the small capacity of the country’s cross-border interconnections. In any case, the fact is that since the beginning of November the average wholesale price of electricity in Greece is 209.19 euros / MWh, which is the highest in Europe, intensifying the pressure on households and businesses, as wholesale prices are transferred to steering wheels. current through the adjustment clauses.
This is the sixth consecutive month that the price of electricity in the wholesale market is moving upwards. The growth rate accelerated in October, as according to the monthly bulletin of the Energy Exchange, last month’s Purchase Clearance Price, which stood at 198.32 euros / MWh, was increased by 47% compared to September and by 320% in in relation to October 2020.
According to an analysis by the Energy Institute of Southeast Europe (IENE), the wholesale price more than tripled in one year, mainly due to rising gas prices and also the dramatic rise in pollutant prices, which exceeded 64 in October. euros per tonne. It is indicative that the average price of natural gas imports increased in October this year to 89.5 euros / MWh (from 62.5 euros / MWh in September), following an upward trajectory for next month.
At the same time, the data of the Energy Exchange show that natural gas dominated in the mixture of electricity generation in October (with all that implies for prices), at 45%. It is followed by Renewable Energy Sources (RES) with 36% (if hydroelectric production is included), imports with 11% and lignite with 8%.
Meanwhile, the same data recorded by the market shares of energy suppliers – based on loads – show a reversal of the downward trend of PPC’s share, which in September had almost two percentage points, with its share standing at 62.62% (from 64.37% in August). In October, however, its percentage is over 64% (64.11%). PPC’s profits translated into losses for most supply companies, with Mytilineos’s share rising to 7.08% in October from 8.08% a month earlier, of Iros to 6.58% (from 6.79%) and NRG at 4.54% (up from 4.66%).
Elpedison moved against the current, showing a small increase in its share, to 6.12% from 6.09% in September. At the same time, the Minister of Environment and Energy, Costas Skrekas, stressed that “the impressive interest of investors in the share capital increase of PPC clearly proves that the company has turned the page, while also being a practical proof of the strong growth prospects of the Greek economy.
The wide participation of international institutional investors exceeded all expectations. With funds of 1.35 billion. euros that the company will raise, in combination with the revenues from the sale of 49% of HEDNO, will proceed to the implementation of its strategic planning. It will invest in the development of Renewable Energy Sources and electricity storage technologies, while it will further accelerate its transformation with the acquisitions of green energy units beyond the Greek borders “. According to the minister, “with these investments, PPC will be able to offer clean energy at affordable prices to households and businesses, while enhancing the country’s energy security.”