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class="content-area-single"> <main id="main" class="single-main" role="main"> <article id="post-45506" class="post-45506 post type-post status-publish format-standard has-post-thumbnail hentry category-electricity tag-energy-mix tag-gas-prices tag-natural-gas-fueled-power-stations tag-renewables-2 tag-retail-electricity-market tag-wholesale-electricity-prices"> <header class="entry-header"> <h1 class="entry-title">Wholesale prices up 120% in 4 days, December rate rises expected</h1>   </header> <div class="entry-content"> <p>Wholesale electricity prices have skyrocketed 120 percent over just four days, between November 9 and 12, driven higher by greater demand as a result of colder weather and higher natural gas prices in international markets.</p> <p>The sharp rise, from 91.92 euros per MWh last Saturday to 202.22 euros per MWh on Tuesday, is expected to prompt price increases in the country’s retail electricity market in December.</p> <p>In Greece’s retail electricity market, variable rates are adjusted monthly, with providers setting new rates based on the wholesale price levels from the previous month.</p> <p>The November wholesale electricity market average is currently at 121.36 euros per MWh, up 32.61 percent compared to the October average of 91.51 euros per MWh.</p> <p>Increased electricity demand over the past few days has outstripped the supply of low-cost renewable energy, necessitating the use of higher-cost natural gas power stations to meet the shortfall.</p> <p> </p> </div> <footer class="entry-footer"> </footer> </article> <div class="fb-tw-share"> <div class="share-single"> <div class="fb-share-button" data-type="button"></div> </div> <div class="tw-single"> <a href="https://twitter.com/share" class="twitter-share-button" data-via="energypresseu" data-related="energypress_gr" data-count="none">Tweet</a> <script>!function(d,s,id){var 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