Power imports in Greece drop to nearly zero in January

Greece’s balance of electricity trade with neighboring markets changed rapidly during the last couple of years. The country became a net exporter.

According to official data for January, power production rose by 23% from the same period one year before, reaching 5,938 GWh. Demand jumped 5% to 4,674 GWh, or 27% less than domestic output.

This meant that there were large quantities available for export, with wholesale prices in Southestern Europe supporting them, as Greece was cheaper than Bulgaria, North Macedonia and Italy in the vast majority of days.

The result was an 86% rise in power exports, to 1,338 GWh. The main buyers were Bulgaria, with 855 GWh, North Macedonia, 338 GWh and Italy, with 331 GWh.

At the same time, imports collapsed to just 74 GWh, or 78% lower than in January 2025.

When it comes to Greece’s production mix, thermal units provided 44.9% in the first month of this year, while renewable energy stood at 42.6% and large hydropower contributed 12.4%.

Curtailments to rise through 2029

The trend continued in February, according to available preliminary data from the Independent Power Transmission Operator (IPTO or ADMIE) and the Hellenic Energy Exchange (ENEX). In fact, hydroelectric production rose, as the country had a lot of rain and reservoirs were filled. Its daily share surpassed 20% many times.

Greece also had relatively high renewables curtailments and negative price hours in the first couple of months of 2026. It is notable that they reached 97 GWh in just one week in February.

For the entire year, they are expected at 3.47 TWh and, down the road, at 3.98 TWh in 2029, according to Professor Pantelis Biskas from the Aristotle University of Thessaloniki (AUTh). Demand is not projected to rise significantly either from electrification efforts in the wider economy or through higher quantities for traditional power uses.