Explosion at 235.50 euros / MWh (+ 34.10%) of the wholesale electricity price – Alarm for energy efficiency

The impact on energy prices after the Russian invasion of Ukraine is causing shock and awe.

The next day’s purchase on the Greek Energy Exchange already shows the average wholesale price of electricity for Friday, February 25 at 235.50 euros / MWh. Within a day the increase is 34.10%, while the price of TTF gas has now exceeded 120 euros / MWh and jumped to 121.90 euros / MWh, and is higher by more than 36.4% compared to yesterday.

Alarm in the financial staff

This situation signals an alarm to the government’s financial staff as the blow to the Greek economy is heavy. At a time when energy costs were declining, this trend is being violently reversed as the energy crisis erupts again. The government is expected to continue subsidizing electricity and gas bills, although it is seeking a unified European approach. The issue, as OT wrote this morning, will be raised by Prime Minister Kyriakos Mitsotakis at the extraordinary EU summit. on the subject of Ukraine.

At the same time, an alarm has been sounded for the security of the country’s energy supply. The Prime Minister after the morning meeting of KYSEA, which was also attended by the Minister of Environment and Energy, Costas Skrekas, appeared reassuring, assuring about the energy adequacy.

The Crisis Management Committee is meeting tomorrow
However, tomorrow morning Mr. Skrekas convenes an extraordinary Crisis Management Committee. The meeting will be held at 08:30, at the Ministry of Environment and Energy, with the participation of the Secretary General of Energy and Mineral Raw Materials, Alexandra Sdoukou, the President of the Energy Regulatory Authority, Athanasios Dagoumas, the Chairman and CEO, George , the president and managing director of IPTO, Manos Manousakis, the managing director of DEPA Commerce, Konstantinos Xifaras and the managing director of DESFA Maria Rita Gali.

The Crisis Management Committee will be convened at regular intervals, according to information, and as long as the state of war in Ukraine lasts. The data regarding the gas flows in the country and the amount and duration of the stocks will be entered on the table.