In recent years, Greece’s energy sector has played an increasingly important role in the economy, investment activity, and price developments. Given the importance of latest developments in the domestic energy market, IENE continues to track key trends through a concise and comprehensive analysis of the energy sector during the first eight months of 2026.
The study examines changes in electricity, natural gas, and oil prices in Greece and Europe, alongside developments in overall energy demand and consumption of electricity, natural gas, oil, and petroleum products in particular. It also assesses energy trade flows, particularly electricity and natural gas imports and exports, as well as changes in the fuel mix for electricity generation.
According to the study, electricity demand in Greece reached 36.4 TWh during the first eight months of 2026, marking a 1.85% decrease compared with the corresponding period in 2025. The findings highlight several key developments in the Greek and European energy markets. Prices for electricity, natural gas, and oil generally followed an upward trend across Europe, while Greece recorded an annual decline in electricity prices. Meanwhile, a new zone of comparatively lower electricity prices emerged in the Balkans, and domestic electricity demand declined. Greece also became a net electricity exporter, driven by lower imports and higher exports.
In the natural gas market, total imports increased despite a slight decline in Russian pipeline supplies, while exports to northern European markets remained limited. Liquefied natural gas (LNG) imports through Revithoussa terminal and Alexandroupolis FSRU reached historically high levels for the period under review. Despite these developments, fuel prices in Greece remained among the highest in Europe. Finally, the electricity generation mix underwent notable changes, reflecting an increased contribution from renewable energy sources (RES) and natural gas.
The full study is available here.
