Greek spot power prices have jumped following the introduction of a tax on gas consumption which affects power generators from 1 September. The system marginal price for power delivered on 1 September averaged €73.09/MWh ($105.64/MWh), compared with €55.67/MWh for the previous day, as gas-fired generators increased their prices to take account of the new tax.
The hourly marginal price set by gas generators surged to around €93/MWh for most of the peak hours on 1 September, compared with €69/MWh in the previous session.
The prices indicate that the increase in costs for gas generators, which are dependent on the individual plants and their efficiency, is higher than the €10-15/MWh previously expected, although results from more than one day will be required to establish the true impact.