Greece Electricity Exports Hit €475 Million Surplus in 2026
Greece generated a €475 million electricity trade surplus during the first eight months of 2026, driven by a 70% jump in power exports and falling import demand. Net electricity exports reached 6.1 terawatt-hours between January and August, according to data from the Independent Power Transmission Operator (IPTO) and the Hellenic Statistical Authority (ELSTAT). greekreporter.com reported that the country shipped 9.24 terawatt-hours abroad while imports dropped 27% to 3.14 terawatt-hours over the same period.
Infrastructure Expansion and Renewable Energy Integration
The export surge stems from national investments in solar and wind capacity alongside domestic grid upgrades. IPTO Chairman and CEO Manos Manousakis told the Athens-Macedonian News Agency that the eight-month export total has already surpassed the figure for the entire previous year. Following a second interconnection with Bulgaria, grid operators are advancing the Greece-Cyprus energy corridor and partnering with TERNA to build a second submarine cable to Italy. These projects will triple the country’s electricity exchange capacity.
Battery Storage Reductions on Fossil Gas Generation
Grid-scale battery storage entered commercial operation in April 2026 to manage excess renewable generation. An analysis by the Green Tank environmental think tank showed that newly installed batteries absorbed 121.8 gigawatt-hours of electricity through August and returned 106.4 gigawatt-hours to the grid. These units prevented roughly 5% of potential renewable energy curtailments while cutting natural gas consumption for power generation by 1.2%.
Turning a Trade Deficit Around
The latest figures mark a financial reversal from 2019, when Greece imported nearly 10 terawatt-hours of power—covering about 20% of domestic demand—and ran an electricity trade deficit of almost €400 million. ELSTAT records show the trade balance shifted into a positive €121.5 million surplus in 2024 before expanding to €261.8 million in 2025. The current €475 million surplus surpasses the full-year totals of last year, representing an improvement of more than €800 million since 2019.
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