In 2025, renewables (mainly wind & solar) set a production record, covering 46.7% of electricity demand, despite high curtailments (1,867 GWh), while lignite recorded a historic low (2,723 GWh). At the same time, production from fossil gas reached a historic high (23.3 TWh), which was partly channeled into electricity exports, which also reached a historic high (3 TWh). On the other hand, domestic demand was down compared to 2024, reaching 56.5 TWh.
High dependence on expensive fossil gas and the partial utilization of cheap RES resulted in the average price on the wholesale electricity market in 2025 reaching 104.1 €/MWh, an increase of 3.2% compared to 2024, ranking Greece 8th highest among the 25 non-island EU countries. Finally, in 2025 the number of hours with negative or near-zero prices more than doubled, reaching 483 or approximately 5.5% of the overall annual hours.
This analysis concerns electricity production across the entire territory of Greece and is based on the latest available monthly data from the Independent Power Transmission Operator (IPTO) for the interconnected grid (December 2025) and from the Hellenic Electricity Distribution Network Operator (HEDNO) for the non-interconnected islands (November 2025). In addition, we use data from HEDNO for low and medium voltage, as well as for the installed capacity of self-production systems (September 2025). Data from the Renewable Energy Special Account bulletin of the Renewable Energy Sources & Guarantees of Origin Operator (DAPEEP) (October 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. Finally, for the wholesale electricity market we use price data of the Day-Ahead Market from ENTSO-E. You can read in more detail about our methodology here.
December
In December 2025, gas took the top spot in electricity production with 2,474 GWh, recording a 39.2% increase compared to November and the second highest monthly production in 2025 (after July, which was 2,488 GWh). Gas also had the highest electricity generation for the month of December in at least the last decade, recording a 12.1% increase compared to 2024, which was the previous high for December.
RES came in second with 1,775 GWh and the second lowest electricity generation for 2025 (after January, which was just 1 GWh less). In addition, RES production in December was down both compared to last December (-9.5%) and compared to the previous month (-14.7%).
Lignite rose to third place with 405 GWh, almost double the electricity generation in November and the third highest in 2025 (after January and February). However, compared to December 2024, lignite production fell by 8% and was the lowest for the month of December in at least the last decade.
Large hydroelectric plants ranked fourth with 359 GWh, an increase of 24.3% compared to November and 59.6% compared to December last year, and the second highest electricity production of the year after July (408 GWh).
Oil ranked last with 237 GWh, up 22.6% compared to November but down 2.8% compared to December last year.
Total domestic demand increased by 14.2% compared to November, reaching 4,650 GWh and reversing the downward trend that had begun in August. It was also very close to the domestic demand levels of December 2024 (4,665 GWh). In contrast, total electricity generation this month reached 5,251 GWh, recording an increase both compared to the previous month (15.4%) and compared to December 2024 (+2.4%).
In terms of the interconnection balance, Greece was a net exporter for yet another month, reaching the highest exports of the year at 601 GWh. This represents an increase of 26.1% compared to November and 45.3% compared to December 2024. Overall, in 2025, Greece was a net exporter for 11 out of 12 months, the longest period of exports ever recorded.
The average price on the wholesale electricity market in December stood at €110.1/MWh, up 3.4% compared to November, but down 15.2% compared to December 2024.
2025
Comparison of sources
In 2025, RES ranked first in electricity production with 26,381 GWh cumulatively, marking a historic high. Despite this record high, the increase in RES electricity production is showing signs of slowing down, as in 2025 the increase compared to 2024 was 3.9%, while in the previous 6 years RES production had increased by an average of 15% each year.
Fossil gas ranked second in electricity production for 2025 with 23,338 GWh and a historic record, while compared to 2024 it increased by 9.4%.
The country’s net exports were also at historically high levels, breaking the 3 TWh (3,010 GWh) barrier for the whole of 2025, exceeding the net exports of 2024 (307 GWh) by almost 10 times. The country was a net exporter for 11 of the 12 months, while in 2024 it was a net exporter for 5 of the 12 months. The exception in 2025 was the month of April, when the interconnection with Italy was interrupted.
In third place in electricity production for 2025, after RES and gas, was oil with 3,659 GWh, down 5.2% from last year. This was followed by large hydroelectric plants with 3,387 GWh and the lowest annual electricity production in the last 5 years, 2.7% lower than in 2024. Lignite ranked last with 2,723 GWh and the lowest production in history, 15.9% less than in 2024.
For 2025, the average price on the wholesale electricity market reached 104.1 €/MWh, up 3.2% compared to 2024. The month with the highest average price was February (154.8 €/MWh), while the month with the lowest price was August (73.6 €/MWh). Compared to the 25 mainland countries of the European Union, Greece recorded the 8th highest price in 2025, 15.8% higher than the average (89.9 €/MWh) and very close to the most expensive countries, , with a difference of only €4.5/MWh (4.1%) from Hungary, the third most expensive.
Shares of energy sources in meeting demand
Domestic electricity demand in 2025 was 56,494 GWh, down 0.9% compared to 2024. However, domestic electricity production increased by 2.1%, reaching 59,503 GWh and a historic high, which is also related to the historic high in exports for the year.
Renewables covered the largest share of demand in 2025 (46.7%), recording the highest share in history. This was followed by fossil gas, covering 41.3% of annual demand, the highest share in history. The share of gas in meeting demand has been on the rise over the last two years, increasing from 29.1% in 2023 to 37.4% in 2024 and 41.3% in 2025.
Oil came in third with a 6.5% share in meeting domestic demand in 2025, and more than 90% in meeting demand on non-interconnected islands.
In penultimate place were large hydroelectric plants with a 6% share, marginally unchanged from their 2024 share (6.1%). In last place was lignite, covering 4.8% of demand in 2025 and recording its lowest share ever.
Changes in the shares of energy sources in demand coverage
Comparing 2025 with 2024, gas, RES, and net exports increased, while lignite, oil, and large hydro decreased. The largest changes were in the interconnection balance and gas. In the interconnection balance, the change was 2,703 GWh, while gas increased by 2,007 GWh.
RES recorded an increase of less than half that of gas, rising by 1,001 GWh mainly due to increased photovoltaic production, which offset the decline in wind power production. Indicative of the high trend, photovoltaic production reached 4,409 GWh (+1,879 GWh from 2024), while wind production fell to 10,065 GWh (-895 GWh from 2024).
Lignite showed the largest decrease in 2025, falling by 513 GWh. Oil decreased by 201 GWh, while large hydroelectric plants decreased by 95 GWh.
It is noteworthy that the increase in RES in 2025 (1001 GWh) was more than enough to offset the decline in production from lignite, large hydroelectric plants, and oil (-810 GWh), with the remainder available for exports. However, most of the change in net exports (2,703 GWh) was covered by the large increase in production from fossil gas (2,007 GWh).
The corresponding percentage changes in 2025, compared to 2024, were:
Lignite: -15.9%
Fossil gas: +9.4%
Renewables: +3.9%
Large hydro: -2.7%
Net imports: +879.5%
Oil: -5.2%
Demand: -0.9%
Comparison of clean energy with fossil fuels
In 2025, clean energy sources (wind, solar, hydroelectric, biomass, self-production) with a total output of 29,768 GWh marginally exceeded fossil fuels (natural gas, lignite, oil), which produced 29,719 GWh. Clean energy sources recorded a historic high in electricity production for the year, while fossil fuels reached a four-year high, mainly due to record production from gas.
In terms of meeting demand, clean sources accounted for a 52.7% share, with the difference from fossil fuels being 49 GWh, which is lower than the corresponding difference in 2024 (435 GWh). This is because the increase in electricity generation from gas was more than double that of RES (+9.4% compared to +3.9%).
This is also reflected in the shares of total electricity production, where the share of fossil fuels increased from 48.8% in 2024 to 49.9% in 2025, while the share of clean sources increased by only 0.5% (from 49.5% in 2024 to 50% in 2025).
Energy curtailment from RES
Based on the combination of forecasts shown in the ISP2 and ISP3 solutions of the consolidated planning process of the IPTO, RES curtailments in December reached 4.2 GWh, or 0.2% of the total RES generation, and were the third lowest of the year after those in January and February. They were also 67% lower than curtailments in December 2024 (12.5 GWh). The highest monthly curtailments for 2025 were recorded in May with 382 GWh.
The day with the highest curtailments was Monday, December 28, 2025, with total RES curtailments of 1.9 GWh, almost half of the month’s curtailments. Most of the curtailments in December occurred between 10 a.m. and 12 p.m. (as in November).
In total, it is estimated that 1,867 GWh or 6.6% of total RES production was rejected in 2025, more than double the RES curtailments in 2024 (899 GWh). It is noteworthy that the increase in curtailments in 2025 compared to 2024 (968 GWh) is comparable to the increase in electricity generation from RES (1,000 GWh). In addition, the cumulative estimated RES rejections for 2025 are comparable to the increase in gas-fired electricity generation (2,007 GWh) between 2025 and 2024.
As for hours with near-zero or negative prices on the wholesale electricity market, there were 7.5 hours in December 2025, while cumulatively for 2025, they reached 483 hours, more than double the corresponding hours for 2024 (186 hours).
