No subsidy for electricity, wholesale price at 213.62 euros

The Ministry of Environment and Energy announced on Thursday 24 September 2026 that it does not currently consider electricity subsidy necessary, while leaving open the possibility of intervention if the wholesale price exceeds 250 euros per megawatt-hour. “Today there is no need for electricity subsidy,” the ministry said, according to in.gr. The announcement comes at a time of sharp rise: the current wholesale price stood at 175.59 euros/MWh, while the price already set for Friday 25 September shoots up to 213.62 euros/MWh, recording a new record and a rise of about 22% compared to the previous day, as reported by Oikonomikos Tahydromos.

The rise is not an isolated one-day phenomenon. The average wholesale price in September is currently at 162.51 euros/MWh, compared to 133.40 euros/MWh in August — an increase of about 26.4%, according to data provided by Oikonomikos Tahydromos. ‘TA NEA’, with calculation through 23 September and average price around 160 euros/MWh, speak of a smaller rise, about 20% compared to August; the discrepancy between the two estimates reflects the different time period of calculation and it has not been officially clarified what the final monthly figure is. Contributing to this rise, among other things, is natural gas, which accounted for 31.21% of electricity generation, while green tariffs in September range from 14.8 to 29.7 cents per kilowatt-hour.

The practical consequence of the rise is not uniform for all households. About 32% of consumers are on fixed tariffs, which are not directly affected by daily fluctuations in the wholesale market. The remainder, a larger part of households, however, remains exposed to tariffs that are linked to the wholesale price or adjusted monthly, with the result that the path towards 250 euros/MWh — the threshold the ministry has set as a possible intervention point — acquires immediate significance for the October bill. The issue is part of a broader discussion about the economy and the government’s energy policy ahead of winter, as decisions on any support depend on the course of a market that has shown volatility in recent weeks.

In parallel with electricity, the ministry is preparing support measures for heating oil and diesel, which are expected to be announced within the coming days. In this context it is estimated that about 1.2 million households will be included, with the heating allowance budget amounting to 173 million euros. Whether electricity subsidy will ultimately be activated will depend on whether the wholesale price stabilizes near current levels or continues to approach the 250 euros/MWh threshold set by the ministry. Until then, the government appears to choose careful monitoring of the market rather than immediate intervention, leaving the possibility of subsidy open for the coming weeks, at a time that directly affects Greece ahead of winter.