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Tue, Oct

Greece Faces Rising Electricity Costs as Prices Hit 2026 High

Greece Faces Rising Electricity Costs as Prices Hit 2026 High

Hellenic Shipping News

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Α new wave of concern over electricity costs is emerging in Greece after prices in the wholesale power market reached their highest level of the year, raising the prospect of government intervention to protect households from higher electricity bills.

The average day-ahead electricity price for Tuesday reached €173.73 per megawatt-hour, according to the report, as high temperatures, increased demand for air conditioning and limited electricity supply put pressure on the market.

At the same time, Goldman Sachs has outlined a more severe scenario for the European energy market, forecasting that the price of natural gas at the Dutch TTF benchmark could rise to €100 per megawatt-hour in December as Europe faces high costs to replenish its gas reserves.

Extreme weather pushes up electricity prices

August has brought unusual weather conditions that are affecting both European and Greek electricity markets.

Extreme heat and drought have reduced water levels in rivers used by nuclear power plants for electricity generation, while demand for air conditioning has increased. The combination has pushed prices higher at a

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