Zero value for electricity is formed today in the Greek system for three hours (from 2 noon to 4 pm) due to the large (over 80%) participation of renewable energy sources in meeting the needs during this period and the low, due to holiday, demand.
The combination of high production from the sun and the wind that exceeds 5,000 megawatts at noon and limited demand (the peak just exceeds 6,000 megawatts) deactivates the expensive thermal units, ie the units of lignite and gas resulting in the price to be formed even at zero. To be precise, at 0.09 euros per megawatt hour at 3 at noon.
The share of imports with about 500 megawatts does not change the picture as these are mandatory (due to bilateral agreements) energy markets declared in the market at zero price to ensure their absorption, while the small share of lignite and gas is limited to the technical minimum of corresponding units.
The picture is reversed in the afternoon when the participation of RES decreases and the natural gas increases to fill the gap, with the result that the price reaches at 9 pm up to 283.12 euros per megawatt hour.
However, the average price today is significantly lower than yesterday as it stands at 168.22 euros per megawatt hour, lower by 27% compared to Saturday. In total, the production mix today is: 61.4% renewable sources, 19.7% imports, 8% natural gas, 3.8% lignite while with 4.2% the system of Crete participates.
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