In February 2025, electricity production from fossil gas was the second highest on record, following July 2021. In fact, it was twice as high as the year before, with a clear impact on the average monthly wholesale electricity price which also doubled (153 €/MWh in Feb. 2025 vs 73.6 €/MWh in Feb. 2024). The large increase in gas in the first two months of 2025 (+2,115 GWh), primarily covered exports and much less the decrease in net energy (-738 GWh from RES and large hydro).
This analysis concerns electricity production across the whole territory of Greece and is based on the latest available monthly data from the Independent Power Transmission Operator (February 2025) for the interconnected grid and from the Hellenic Electricity Distribution Network Operator (HEDNO) for the non-interconnected islands (January 2025). In addition, we use the most recent data from HEDNO for low and medium voltage, as well as for the installed capacity of self-production systems (August 2024). The data from DAPEEP’s Renewable Energy Special Account bulletin up to January 2025 are used to calculate more accurately CHP production at low and medium voltage, as well as for the PV utilization factors needed to estimate self-production. You can read in more detail about our methodology here.
The month of February
In February 2025, the upward trend in fossil gas that began in October 2024 continued. At 2,472 GWh, gas production was the second highest on record, following July 2021 (2,491 GWh).
On the other hand, lignite with 439 GWh decreased compared to the previous month (January 2025), reversing the increasing trend that had also started since October 2024.
As for RES (mainly wind and photovoltaics), production in February 2025 was 1,691 GWh, continuing the downward trend that had begun in October.
For the fifth consecutive month, the country was a net exporter with 440 GWh. In February, the net export quantity was the second highest monthly quantity in the last decade, following November 2024 (-646 GWh).
The large increase in fossil gas had a negative impact on prices in the wholesale market, as the average day-ahead price in February was €153/MWh, double the same month last year (€73.6/MWh).
The first two months of the year
Comparison of sources
Comparing the first two months of 2025 with the first two months of the last 10 years, it is observed that fossil gas had the highest production with 4,829 GWh. In fact, it climbed to first place, outperforming the production from renewables (3,477 GWh) by almost 1.4 TWh. This is in contrast to the previous two years, when renewables held the lead by a wide margin over fossil gas.
Lignite was in third place (950 GWh), followed by large hydro with 471 GWh, very close behind oil (468 GWh)
Net exports cumulatively for the first two months of 2025 reached 822 GWh
Shares of sources in meeting demand
Electricity demand in the first two months of 2025 in the territory reached 9,375 GWh, marking a 2.6% increase compared to the same period in 2024.
Fossil gas dominated demand coverage with a share of more than 50% (51.5%), which was the largest share for the last decade. Renewables (mainly wind and photovoltaics) followed with a share of 37.1%. Even when aggregated with large hydropower (5%), clean energy (42.1%) failed to surpass the share of gas.
Lignite followed renewables in terms of share with 10.1%, while oil made a smaller contribution in the non-interconnected islands (5%).
Changes in the sources of demand coverage
Comparing the first two months of 2025 with those of 2024, the huge increase in fossil gas (+2,115 GWh) was primarily channeled to electricity exports and secondarily to the reduction in clean energy (-572 GWh RES and -166 GWh large hydro). A very small amount of electricity production from gas offset the increase in demand (+237 GWh), as this was mainly covered by the increase in lignite and oil (+208 GWh).
The corresponding percentage changes in the first two months of 2025, compared to the same period in 2024, were:
Lignite: +24.3%
Fossil gas: +78%
Renewables: -14.1%
Large hydro: -26.1%
Net imports: -256.4%
Oil: +5.1%
Demand: 2.6%
Comparison of clean energy with fossil fuels
Cumulatively, fossil fuels (fossil gas, lignite and oil) with 6,247 GWh in the first two months of 2025, outperformed clean energy with 3,909 GWh (wind, photovoltaic, hydro, biomass and self-production). In fact, the difference is close to 2020 levels.
This came after 2 years (2023-2024) where clean energy exceeded fossil fuels production. The main reason for this reversal is the very large increase in fossil gas.
Energy curtailment from RES
According to the forecasts of the consolidated planning process published daily by ADMIE, curtailments were minimal in February, only 1.5 GWh and cumulated with those of January (0.6 GWh) they reached 2.1 GWh. Besides, as last year, during the first two months of the year, curtailments are limited or zero due to the low RES production.