Friday , January 27 2023
Home / News / Economy / Cost of electricity in Greece the highest among EU’s 27

Cost of electricity in Greece the highest among EU’s 27

Greece had the highest average cost of electricity among the 27 member-states of the European Union in the first quarter of 2020, a report by the European Commission published on Thursday has shown.

The Greek electricity wholesale rate, which is also used to determine the retail rate, stood at 50 euros per megawatt/hour, which is about 50% more than the EU mean rate of €34/MWh. Malta came a distant second with €45/MWh, ahead of Bulgaria with €42/MWh, and Romania and Poland at €41/MWh.

Greece’s rate was three times that of Sweden, which stood at €17/MWh in the January-March 2020 period.The European Commission report that presented those figures explained that Greece is among the countries that traditionally rely on imports, have limited cross-border networks and face the reduction of lignite-based production and high emission costs. Greece, in short, has all of the features that make a market more expensive.

Check Also

Hamptons in Greece: Kavala to turn to New York with luxury investment

The city of Kavala in north-eastern Greece will turn into a hot spot for affluent …

One comment

  1. So, according to other reports over the last year or so, Greece has the most expensive mobile phone networks in Europe, the most expensive food in Europe and, now, the most expensive electricity in Europe – all this in one of the poorest countries in Europe. Make of that what you will……