Renewable energy production spiked in Greece, covering almost 80% of estimated daily electricity consumption today, leading to high curtailments and constrained interconnections.
According to data from the Hellenic Energy Exchange (HEnEx), renewable energy has a 78% share, with natural gas falling to 13.2% and imports at just 2.5%.
The wind has been intense in recent days in Greece. Combined with output from other green sources, it resulted in unusually high amounts of renewable energy in the system.
For tomorrow, October 3, Independent Power Transmission Operator (IPTO or ADMIE) forecasts an hourly renewables peak at 12,723 MW at noon. This is against less than 6,000 MW of expected demand at that exact time.
Reducing interconnections to ensure stability
It means that significant curtailments will have to take place, with additional measures needed to stabilize the system. IPTO decided to substantially cut available capacity in interconnections with neighboring markets.
Specifically, the line with Bulgaria will be cut to 500 MW for exports and 700 MW for imports during the weekend.
Similarly, the connection with Albania is set at 100 MW and 450 MW, respectively.
The operator said the move was necessary to ensure that the link remains within operational security limits.
The line with North Macedonia would be reduced to 350 MW for exports and 450 MW for imports.
In this case, IPTO said it is due to the urgent maintenance of the 400 kV tie-line between Skopje and Uroševac.
Lower seasonal effect on prices
Back in spring, similar renewables peaks have tumbled the day-ahead electricity price to about EUR 50 per MWh.
Given the higher natural gas price today, as well as the overall problems across Europe, the situation is now drastically different.
The wholesale price for today is significantly higher in Greece, EUR 120 per MWh, but the lowest in Europe. Germany is at EUR 200 per MWh, compared to EUR 216 per MWh in Italy and EUR 138 per MWh in Bulgaria.
It shows the benefits for Greece from its wind conditions compared to the rest of the continent and even in the Balkans.
