In February 2026, increased electricity production from wind and hydropower displaced significant amounts of fossil fuels. Compared to February 2025, renewable energy sources (wind and solar) grew by 20% (+300 GWh), while large hydropower plants produced five times more (+874 GWh). The combined increase of 1,174 GWh of clean energy led to a nearly equivalent reduction in fossil fuel use: fossil gas fell by 35% (-838 GWh) and lignite by 47% (-205 GWh).
As a result, this February, clean energy (renewables and hydropower) exceeded fossil fuels (lignite and fossil gas) by 1,052 GWh, in contrast to last year, when fossil fuels were ahead by 1,164 GWh.
The impact on wholesale electricity prices was striking: February 2025 was the most expensive month of the year, with an average price of €154.1/MWh. This February, the average price dropped to €78.4/MWh—almost half (-49.2%) compared to last year.
This trend appears to continue into March. In the first ten days, clean energy (renewables and large hydropower) reached 980 GWh, compared with 653 GWh from fossil fuels. Specifically, large hydropower produced 320 GWh, solar 397 GWh, and wind 263 GWh. The average wholesale price stood at €85.5/MWh, placing Greece among the six cheapest electricity markets in Europe and 14.5% below the EU-27 average.
This positive price development in early 2026, driven by the strong contribution of renewables, contrasts sharply with 2025, when Greece had the 8th highest price in the EU at €104.1/MWh, slightly cheaper than the most expensive EU countries and 15.8% above the EU average price of €89.9/MWh.
It is clear that protecting consumers and the national economy in the face of a new energy crisis requires rapidly expanding renewable energy capacity with storage infrastructure while minimizing reliance on fossil gas, whose prices are both high and volatile.
*The data were presented in an article by Machi Tratsa in To Vima tis Kiriaks (15/3) with statements by Nikos Mantzaris, senior policy analyst and co-founder of The Green Tank.
