In Greece, the hourly average net load is covered to a bigger extent by RES & Hydro in 2023, especially at mid-day, where solar production is peaking, thus more zero or negative prices are recorded.

Specifically, in 2023, there were 10 times more hours of electricity prices under 10 €/MWh when compared to 2022. On an hourly basis, RES generation has increased by 5%, especially in the mid-day, and overall N. Gas and Lignite generation have decreased by almost 20% between 2022 and 2023.​

As a result of the increased penetration of renewable energy sources and the significant changes in generation and consumption patterns observed in recent years, the future High-RES energy system will require a comprehensive restructuring, including the accelerated integration of energy storage solutions to ensure reliable and efficient energy supply throughout the day.

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The “Chart of the Month” is a HAEE publication, powered by Deloitte.