The large share of renewable energy sources, which is over 80% in meeting the needs, led on 9/4/2022 to zero price for electricity for three hours from 2 noon to 4 pm.
The combination of high production from the sun and the wind that exceeds 5,000 megawatts at noon and limited demand (the peak just exceeds 6,000 megawatts) deactivates the expensive thermal units, ie the units of lignite and gas resulting in the price to be formed even at zero.
To be precise, at 0.09 euros per megawatt hour at 3 at noon. The share of imports with about 500 megawatts does not change the picture as these are mandatory (due to bilateral agreements) energy markets declared in the market at zero price to ensure their absorption, while the small share of lignite and gas is limited to the technical minimum of corresponding units.
The picture is reversed in the afternoon when the participation of RES decreases and the natural gas increases to fill the gap, with the result that the price reaches at 9 pm up to 283.12 euros per megawatt hour.
In total, the production mix for 9/4/2022 was: 61.4% renewable sources, 19.7% imports, 8% natural gas, 3.8% lignite while with 4.2% the system of Crete participates.