Households and businesses have cut back on electricity consumption for the ninth consecutive month. According to Independent Power Transmission Operator-IPTO’s monthly bulletin, domestic electricity demand remained negative in March as well, recording a 14.92% drop compared to the corresponding month of the previous year. In absolute terms electricity consumption last month fell to 3,992 GWh (gigawatt hours) from 4,692 GWh in March 2022.
Energy cutbacks
The energy saving of households and businesses started last June (2022) when, because of the energy crisis, they timidly started limiting electricity consumption initially by 1.61% (compared to the corresponding month of 2021). Savings continued in the following months as consumption plunged in July 2022 by 11.02%, in August by 12.53%, in September by 4.89%, in October by 8.46%, in November by 9.63%, in December by 13.16%, as well as in the first months of 2023 (in January by 13.03% and in February this year by 1.89%).
In March, a large reduction (compared to the corresponding month last year) was recorded in the low and medium voltage distribution network to which households and small and medium enterprises are connected, which consumed 17.7% less electricity by turning off the power switch or limiting the use of energy-intensive devices. The demand from power-guzzling industries connected to the high voltage grid was also limited by 5.1%, while mines recorded a decrease of 19.5%.
Power generation
The drop in electricity production this March was also impressive, as it plunged by 28.10% (compared to March 2022), reaching 3,430 GWh. The participation of green energy in the energy mix was also spectacular, with Renewable Energy Sources (RES) and hydroelectric plants covering 59.82% while thermal production (from natural gas and lignite covered 40.19%). Last month, RES and hydroelectric plants covered 56.4%, while thermal plants covered 43.6%.
Providers
Regarding the shares of electricity suppliers, PPC’s percentage appears reduced compared to the previous month. In particular, in March it held 61.37% (compared to 62.19% in February) in the total representation load in the domestic retail electricity market. In January it was at 60.08%, while in December 2022 at 63.12%. A year ago, in March 2022, PPC held 64.11% of the market, while the average share of the dominant market player in the whole of 2022 was 62.4%.
Among private suppliers, Mytilineos (Protergia) remained first with 7.42%. They are followed by HERON with 7.20% and Elpedison with 6.14% (from 5.95% in February). In the next positions are NRG with 4.96%, Attica Natural Gas with 2.90%, Watt & Volt with 2.76%, ZeniΘ with 2.11% and Volterra with 2.01%. The remaining percentage was shared by the smaller electricity providers in the market.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.
