Despite rising electricity prices internationally and across the region amid the energy crisis, Greece is maintaining a competitive advantage over neighbouring countries and increasing its electricity exports to the region.
According to data from IPTO and ELSTAT, electricity exports rose sharply in the first eight months of 2026, making a significant positive contribution to the trade balance.
Net exports (exports minus imports) in the January-August period reached 6.1 terawatt-hours, according to IPTO. Imports fell 27% from the same period last year to 3.14 terawatt-hours, while exports rose 70% to 9.24 terawatt-hours.
IPTO chairman and chief executive Manos Manousakis told the Athens-Macedonian News Agency (AMNA): “The country is cementing its position as an electricity exporter in southeastern Europe. Over the past three years, the export balance has continued to widen, surpassing in the first eight months of 2026 the total electricity exports recorded last year.
This development is the result of the national energy strategy to harness the abundant domestic renewable resources at our disposal — the sun and the wind — as well as the systematic development of our electricity infrastructure. Following the second interconnection with Bulgaria, IPTO is implementing the new Greece-Cyprus energy corridor and, together with TERNA, is launching a second subsea interconnection with Italy, which will triple electricity exchange capacity in the years ahead.”
Mr Manousakis added: “Our investment plan also includes strengthening existing interconnections with all neighbouring countries along our northern borders, new interconnections in the eastern Mediterranean and an even stronger backbone of high- and extra-high-voltage lines at home, so that the energy produced can be transported reliably and securely to centres of consumption in Greece and abroad.”
In 2019, Greece imported almost 10 terawatt-hours of electricity, or about 20% of its needs. That year, the electricity trade balance showed a deficit of almost €400 million for Greece, as the value of electricity imports exceeded €500 million, while exports amounted to €106.7 million.
According to ELSTAT data, the balance moved into surplus in 2024 (€121.5 million), widening to €261.8 million in 2025. Last year’s annual figure has already been surpassed: the surplus in the first eight months reached €475 million, with imports worth €391 million and exports totalling €866.8 million.
Overall, the benefit to Greece since 2019 exceeds €800 million, as a deficit of €400 million has turned into a surplus of €475 million, which is expected to widen further by the end of the year.
The new factor in the power-generation equation this year is energy storage (batteries), whose role will grow as the capacity of units brought online increases.
According to analysis by Green Tank, from the first batteries entering operation in April 2026 through to August, they absorbed 121.8 GWh and supplied 106.4 GWh to the system. As a result, they prevented 5% of total curtailments over the period, while also reducing gas use for power generation by 1.2%.
SOURCE: AMNA