Extreme heat drives up energy demand, prices in Greece

ATHENS

A severe heat wave gripping Greece has pushed electricity demand and wholesale prices to their highest levels this summer, straining the national grid, local media reported Friday.

Power consumption surged to record levels on July 25, according to the daily To Vima, citing data from the Independent Power Transmission Operator (IPTO). The sharp increase, driven primarily by widespread use of air conditioners, came just a day after demand peaked at 10,798 megawatts (MW) on July 24 -- the highest figure recorded so far this year.

The extended period of extreme temperatures is putting significant pressure on the country’s energy infrastructure, testing the resilience of the power grid under prolonged stress.

Wholesale electricity prices also spiked, with the average rate for July 25 exceeding €142 ($166.5) per megawatt-hour (MWh), marking the highest price point since the start of summer.