Greece has once again hit a new record in electricity exports, and remains competitive despite rising electricity prices internationally and across the region amidst the energy crisis.
Data from the Independent Power Transmission Operator (IPTO) and the Hellenic Statistical Authority (ELSTAT) show that the country’s electricity exports rose sharply in the first eight months of 2026, making a significant positive contribution to Greece’s trade balance.
Net electricity exports (exports minus imports) reached 6.1 terawatt-hours (TWh) between January and August, according to IPTO. Imports fell by 27 percent compared with the same period last year, to 3.14 TWh, while exports increased by 70 percent to 9.24 TWh, thus consolidating the country’s position as an electricity exporter in Southeastern Europe.
Greece’s electricity exchange capacity forecast to triple
According to IPTO Chairman and CEO Manos Manousakis, over the past three years, Greece’s net electricity exports have been steadily increasing. This year, the figure for the first eight months of 2026 has already exceeded the total for the whole of last year.
“This development is the result of our national energy strategy to harness our abundant domestic renewable resources, namely solar and wind energy, as well as the systematic development of our electricity infrastructure,” Manousakis told the Athens-Macedonian News Agency (ANA-MPA).
And there’s still more οn the horizon.
Following the second interconnection with Bulgaria, IPTO is implementing the new Greece-Cyprus energy corridor and, together with TERNA, is launching the second submarine interconnection with Italy, which will triple electricity exchange capacity in the coming years,” he added.
IPTO’s investment plans also include strengthening existing interconnections with all neighbouring countries along Greece’s northern borders, developing new interconnections in the Eastern Mediterranean and establishing an even stronger domestic high-voltage and extra-high-voltage transmission network, with the aim of ensuring that electricity generated in Greece can be transmitted reliably and safely to consumption centres both within the country and abroad..
Greece reversed electricity imports trend
Back in 2019, Greece imported almost 10 TWh of electricity, equivalent to approximately 20 percent of its needs. That year, the country’s electricity trade balance recorded a deficit of almost € 400 million, with electricity imports exceeding € 500 million in value, compared with exports worth € 106.7 million.
According to ELSTAT data, however, the electricity trade balance moved into surplus in 2024, reaching € 121.5 million, before widening to € 261.8 million in 2025.
Last year’s annual figure has already been surpassed, with the surplus reaching € 475 million in the first eight months of 2026; electricity imports were valued at € 391 million, compared to € 866.8 million worth of exports.
The improvement for Greece since 2019 exceeds € 800 million, as a trade deficit of almost € 400 million has been transformed into a surplus of € 475 million, which is expected to widen further by the end of the year.
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