Wholesale electricity prices in Greece jumped more than 50% on Monday, July 6, as traders priced in the strain of returning high temperatures across Central and Southeastern Europe.
The sharp move in Athens signals that market participants are already front-running the load increase expected from the next wave of heat, which is forecast to hit the region in the coming days.
The spike in Greek power costs reflects broader nervousness across the European power complex.
With summer demand peaking, even modest shifts in weather forecasts can trigger significant volatility in day-ahead and intraday markets.
Traders are closely monitoring grid operator warnings and supply constraints as the region braces for another period of extreme heat.
This development follows a severe heatwave that recently swept through Central Europe, with Switzerland, Denmark, and the Czech Republic recording temperatures exceeding 40°C.