Greece’s power consumption has soared to unprecedented levels on Friday, July 25, as an intense heatwave continues to grip the country, pushing demand for electricity to near-record highs.

This surge in usage, largely driven by widespread air conditioner use, comes just a day after demand peaked at 10,798 megawatts (MW) on July 24 — the highest recorded so far this summer.

Citing data from the Independent Power Transmission Operator (IPTO) daily tovima.gr reports that electricity demand today is expected to remain above the 10,000 MW mark for 5.5 consecutive hours — a duration never before experienced by Greece’s power transmission and distribution systems.

Near the 11,000 MW Threshold

Between 10:30 a.m. and 4:00 p.m., when temperatures are forecast to range between 40°C and 44°C, power demand is projected to fluctuate between 10,033 MW and 10,778 MW. The peak — 10,778 MW — is anticipated around 1:00 p.m., coming dangerously close to the critical 11,000 MW threshold.

The extended period of such high demand places significant strain on the national power grid, putting system resilience to the test amid sweltering conditions.

Soaring Wholesale Prices on the Energy Exchange

The heatwave is not only taxing infrastructure but also driving electricity prices higher. On Greece’s day-ahead market, the average wholesale electricity price for July 25 has spiked to 142.59 euros per megawatt-hour (MWh) — the highest recorded since the start of summer. This increase is expected to trickle down to consumer energy bills.

Interestingly, while temperatures are highest during the day, the most extreme price spike occurs in the evening. At 9:00 p.m., electricity prices are forecast to skyrocket to 410.50 euros /MWh, setting a new benchmark high for the season.

PM Mitsotakis: “Incomprehensible high energy prices”

Many consumers wonder why Greeks pay such high energy prices when there have been major investments in renewable or alternative energy sources such as solar panels, wind parks etc.

It was only recently that Prime Minister Kyriakos Mitsotakis had the same question on July 17, during a meeting with EU Commissioner for Energy and Housing, D. Jorgensen in Athens.

The PM spoke of “incomprehensible high energy pricing” and attributed  the phenomenon in energy exclusively to the malfunctions of the electrical interconnections in the region.

According to Mitsotakis, the countries of South-East Europe “seem to be punished due to the insufficient interconnections, but also due to the fact that the target model does not always seem to work in ways that we fully understand in terms of energy pricing.”

In fact, he referred to the difficulty of explaining to citizens that “we are a pioneer country in the green transition, but at the same time we end up having higher electricity prices than many other European countries”.

He did not fail to refer for solutions to the newly formed task force since “at present we do not have a well-functioning European electricity market”, obviously hinting to EU since the domestic market operates “like a clockwork.”

In order to confirm the .. “perfect” operation of the domestic market, energy suppliers have announced that the cheap pricing for 500 KhW per month will be reduced to 200 KhW as of beginning of August 2025.

However, it should be stressed that the domestic market obviously operates “like a clockwork” for the suppliers’ pockets and not for the consumers.

And nobody can stop this system.