Electricity prices and Greece’s position in the EU ranking

Greece is “moving to a higher energy tier,” leading to lower electricity prices and a surge in exports, according to government officials.

As noted by government sources, the improvements recorded over the past six years in the Greek energy market—such as the sharp increase in energy produced by renewable sources and investments in grid infrastructure—have contributed both to downward pressure on household electricity prices and to Greece’s transformation into a net exporter of electricity.

This shift is also clearly reflected in the wholesale electricity market. Although Southern and Eastern Europe benefit from fewer cross-border interconnections compared to Northern Europe, Greece ranked seventh in wholesale electricity prices in 2026. In contrast, government officials noted that in 2019 Greece had the highest wholesale electricity costs in Europe, which in turn exerted pressure on retail suppliers and ultimately on consumers.

Greece’s ranking

Greece’s improved position is also reflected in its ability to maintain electricity prices close to the European average even at retail level, including in purchasing power parity terms, that account for differences in living costs across EU member states. This has been achieved despite the broader rise in energy costs following Russia’s invasion of Ukraine and the structural challenges posed by Greece’s insular geography.

Indicatively, the final household electricity price in Greece in purchasing power terms in the second half of 2025—prior to the escalation of tensions in the Gulf—stood at 29.26 euros per 100 kWh, broadly in line with the EU average of 29.06 euros per 100 kWh. Greece also ranked ahead of Spain and Portugal, countries often cited as benchmarks, where prices were approximately 0.50 euros and 0.25 euros per kWh higher, respectively. Germany recorded significantly higher prices, more than 5 euros above Greece at 34.6 euros per 100 kWh, while Romania registered the highest cost in the EU at nearly 50 euros per 100 kWh.

In absolute terms, Greece was the 10th cheapest country among the 27 EU member states for household electricity, with retail energy costs estimated at 23.78 euros per 100 kWh, compared with an EU average of 28.96 euros per 100 kWh—around 22% higher than Greece.

Europe’s 4th largest electricity exporter

A key driver of Greece’s improved position in electricity pricing has been the significant expansion of solar and wind investments since 2019, following a period of stagnation in the previous four years. Thanks to the increased contribution of renewables, Greece has now become a major net exporter of electricity.

In 2026, Greece ranks as the fourth largest electricity exporter in Europe, whereas in 2019 it imported 18% of its electricity needs, according to government sources.

Between 2015 and 2019, installed photovoltaic capacity in Greece increased only marginally from 2.6 GW to 2.8 GW—an increase of just 0.2 GW or 7.7%, according to the International Renewable Energy Agency (IRENA).

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