Electricity rates below 0.15 euros per kWh available from many companies in April

Many power companies are offering electricity tariffs that are below the threshold of 15 cents per kilowatt-hour - the level targeted by subsidies during the 2022–2032 period - with 11 fixed-rate ("blue") tariffs and three "green" tariffs (including that of PPC) meeting this level in April, according to data from the Regulatory Authority and the retail market

As also indicated by Deputy Environment and Energy Minister Nikos Tsafos, there is currently no cause for alarm regarding electricity prices, which at the wholesale level are moving below last year’s levels.

Market sources expressed cautious optimism about price developments following the ceasefire agreement in the Gulf. However, they noted that damage to energy infrastructure during hostilities cannot be repaired immediately, and that a lasting agreement in the region will be necessary after the ceasefire.

According to the same sources, the main reasons for the relative containment of electricity prices so far are:

Smaller increases in international natural gas prices compared to liquid fuel prices. In early April, natural gas prices ranged between 40–50 euros per megawatt-hour - similar to the winter 2024–2025 period - whereas during the 2022 energy crisis they had reached as high as 250 euros.

Increased participation of hydroelectric power in the energy mix due to favorable weather conditions (rainfall and snowfall) during the winter.

The addition of renewable energy sources (RES) capacity, further helping to stabilize prices.

At the retail level, market self-restraint in setting April tariffs also played a role.

The recent rise in international crude oil prices has also had a positive effect for Greece: the revival of operations at the Prinos oil fields. After a roughly nine-month shutdown, production resumed in February. Energean’s output from the Prinos, North Prinos, and Epsilon fields currently stands at around 1,000 barrels per day, with a target to increase to 1,500. Proven reserves in the area amount to 40 million barrels, though their extraction faces the hurdle of higher energy costs.

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Many power companies are offering electricity tariffs that are below the threshold of 15 cents per kilowatt-hour - the level targeted by subsidies during the 2022–2032 period - with 11 fixed-rate ("blue") tariffs and three "green" tariffs (including that of PPC) meeting this level in April, according to data from the Regulatory Authority and the retail market monitoring tool energycost.gr.

As also indicated by Deputy Environment and Energy Minister Nikos Tsafos, there is currently no cause for alarm regarding electricity prices, which at the wholesale level are moving below last year’s levels.

Market sources expressed cautious optimism about price developments following the ceasefire agreement in the Gulf. However, they noted that damage to energy infrastructure during hostilities cannot be repaired immediately, and that a lasting agreement in the region will be necessary after the ceasefire.

According to the same sources, the main reasons for the relative containment of electricity prices so far are:

Smaller increases in international natural gas prices compared to liquid fuel prices. In early April, natural gas prices ranged between 40–50 euros per megawatt-hour - similar to the winter 2024–2025 period - whereas during the 2022 energy crisis they had reached as high as 250 euros.

Increased participation of hydroelectric power in the energy mix due to favorable weather conditions (rainfall and snowfall) during the winter.

The addition of renewable energy sources (RES) capacity, further helping to stabilize prices.

At the retail level, market self-restraint in setting April tariffs also played a role.

The recent rise in international crude oil prices has also had a positive effect for Greece: the revival of operations at the Prinos oil fields. After a roughly nine-month shutdown, production resumed in February. Energean’s output from the Prinos, North Prinos, and Epsilon fields currently stands at around 1,000 barrels per day, with a target to increase to 1,500. Proven reserves in the area amount to 40 million barrels, though their extraction faces the hurdle of higher energy costs.

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