Greece is entering the heart of the high-consumption period of the year with the best outlook for fuel and electricity rates. Gasoline and diesel prices are gradually falling following the de-escalation of the international price of oil and products, after the ceasefire agreement signed between the US and Iran.
In electricity, the wholesale market sends positive signals for the formation of green tariffs in July.
Sunshine and summer winds have increased renewables’ production and their participation in the fuel mix to over 60% in recent days, reducing the participation of expensive natural gas units below 30%.
One week before the end of the month, the average price of a megawatt hour in the wholesale market stands at €88.49, marginally below the equivalent of May and is the lowest in Europe after the traditionally cheap markets of the Scandinavian countries, due to a favorable fuel mix.
In the fuel sector, the impact of the US-Iran deal is already reflected in pump prices, with market players estimating that unless there is a dramatic change, they will be back to prewar levels within 10-15 days.
