At 550 million euros is the benefit to the trade balance from exports of electricity before the year is even over, as exports move to record levels, 25 times higher than last year.

Apart from economic importance (easing the current account balance), the development has geopolitical significance as Greece becomes a feeder of neighboring countries and the European market. But it also has an energy dimension. Which is the fact is that the Greek system, for a significant period of time, has been operating more competitively than the systems of neighbouring energy-exporting countries; otherwise, there would obviously be no ground for exports. This is not to say that wholesale prices in SE Europe do not remain at higher levels than in Western Europe, due to structural weaknesses in the internal electricity market.

As Nikos Tsafos, Deputy Minister of Environment and Energy, Nikos Tsafos, points out in a statement to RES: “Our country in 2024 succeeded in becoming a net exporter of electricity for the first time since 2000. In fact, in 2019, after four and a half years with SYRIZA in power, electricity imports had reached 18% of our needs which, firstly, burdened our trade balance with 400 million euros, secondly, increased prices in our effort to attract energy and thirdly, exposed us to various risks such as a breakdown in a cable or a plant in another country. By contrast, in 2024 electricity exports resulted in a trade surplus of EUR 122 million. This is an extremely positive development as if our imports had stayed at, for example, 2019 levels at 2024 prices, it would have cost us around €1 billion. Therefore, the fact that we have managed in five years from importers to become energy exporters reflects the comparative advantage that our country has now gained in electricity production and is undoubtedly a positive legacy for the future.”

Speaking last week at the seventh Renewable & Storage forum, he said, “Nine days out of ten we are exporters and instead of looking to import, today we are looking to sell energy.”

What the data shows

According to ELSTAT data, in 2019, electricity imports reached 500.6 million euros in value, while exports were only 100.6 million. Therefore, the balance was negative by 400 million at the expense of our country. In 2025, in the first 8 months for which data are available, imports of electricity were close to 500 million, and exports were close to 650 million. Therefore, the balance became positive by 150 million, which means that the total benefit compared to 2019 is 550 million. Obviously, by the end of the year, the benefit will increase.

According to ADMIE data for the first half of 2025, the balance (exports minus imports) widened from 22 gigawatt-hours for the whole of 2024 to 571 GWh for January-June as electricity exports reached an all-time high. This performance comes after the 2024 milestone when Greece, as noted by ADMIE, became a net exporter of electricity for the first time, reversing a decades-long tradition of import balance. This development is largely due to the addition of new generation capacity from renewable energy sources whose total capacity currently exceeds 16 gigawatts.