Due to heavy rainfall and melting snow, electricity production at hydropower plants owned by Greek state-controlled Public Power Corporation (PPC) has increased significantly in the past few days, which led to a decrease of system marginal price (SMP).
It is estimated that water reserves at accumulations currently exceed the maximum level by some 15 % and offer production capacity of 2,835 GWh, compared to maximum permitted level of 2,460 GWh. PPC will need to generate 375 GWh of electricity from its HPPs in order to bring water levels back to normal, but since more precipitation and melting snow is expected in the near future, this situation is likely to last for some time.
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Tags: electricity, electricity price, electricity production, Greece, hydro, PPC, SMP