As Greece enters a new week under extreme heat, the country’s
As Greece enters a new week under extreme heat, the country’s electricity system is under growing strain. The ongoing heatwave, which began intensifying on July 21, has sent power demand soaring—triggering a steep 45% increase in electricity prices on the wholesale market and placing grid operators on high alert.
Energy System Under Pressure
Officials from Greece’s Independent Power Transmission Operator (ADMIE), the Hellenic Electricity Distribution Network Operator (HEDNO/DEDDIE), and the Regulatory Authority for Energy, Waste and Water (RAAEY) describe the situation as unprecedented. Despite the challenges, they remain cautiously optimistic about the resilience of the electricity grid and its ability to avoid blackouts.
In anticipation of peak demand, Minister of Environment and Energy Stavros Papastavrou convened an emergency task force meeting on July 20 to coordinate the response of all key agencies.
Surge in Wholesale Electricity Prices
The impact of the heatwave is already evident in the energy market. On July 21, the wholesale electricity price in Greece jumped to €115.12 per megawatt-hour—a 45% rise compared to the previous day. The evening hours are expected to see even higher prices, reaching up to €213.53 per megawatt-hour, due to the absence of renewable energy generation at night.
The spike in
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