05 Dec Update of the Retail Wood Pellet Price Index of the Greek Market (October 2024)
Update of the Retail Wood Pellet Price Index of the Greek Market (October 2024)
PRESS RELEASE HELLENIC BIOMASS DEVELOPMENT COMPANY (HELLABIOM)
December 3, 2024 – As is known, the Hellenic Biomass Development Company (ELEAVIOM) recently announced the launch, for the first time in Greece, of a Wood Pellet Price Index for the domestic market . The development of the Index was carried out with the scientific support of the National Center for Research and Technological Development (EKETA) and was largely based on the models of corresponding initiatives of other biomass and pellet associations in Europe, such as proPellets Austria for wood pellets and the Spanish Biomass Association ( AVEBIOM) . The Price Index is updated and posted on a monthly basis on the ELEAVIOM website .
Key objectives of the Wood Pellet Price Index are:
- Informing consumers about the retail prices of wood pellets, but also about their historical trends.
- The relationship and price comparison of wood pellets with other energy products in the domestic heating market.
- Strengthening the transparency and extroversion of the Greek market of solid biofuels and pellets in particular, through the cooperation of commercial enterprises in the renewable bioheat sector.
- The provision of a reliable source of information on the retail prices of wood pellets and its use by research and scientific bodies when preparing studies.
- Supporting policy makers and public administration services in decisions to support a renewable energy source with a neutral carbon footprint, such as wood pellets.
Price index for household wood pellets
The Price Index refers to wood pellets for domestic use, class A1 according to the ISO 17225-2 standard and certified according to solid biofuel quality certification systems, such as the globally recognized, transparent and independent ENplus® wood pellet certification system for the entire supply chain, from production to final delivery.
Following methodology
- – Selling prices of wood pellets for use in the building sector are collected on a monthly basis through a confidential survey of a representative number of retail outlets.
- – The prices include VAT, refer to receipt of the fuel by the consumer (for pellets packed in 15 kg sacks) and refer to [€ / 15 kg] and [€ / ton].
- – In the current Bulletin, the fluctuation of the average retail price from September 2023 until October 2024 is announced, while the Price Index will be updated monthly from now on based on the repeated survey mentioned above. To avoid affecting the market, the Price Index will be published with a delay of one month.
- – In the course of the 2024-25 heating season, a comparison is also made with other corresponding energy products in [cent € / kWh] (e.g. heating oil, natural gas, electricity, LPG).
Conclusions of recording average retail prices during the period September 2023 – October 2024
According to the Price Index survey and as can be seen from the graphs of the variation of the average retail price of class A1 wood pellets certified with the ENplus® system, for a 15-kg package ( Graph 1 ) and in reduction for 1 ton of product ( Graph 2 ), the large de-escalation of the retail price within one year from October 2023 to October 2024 is confirmed. Specifically, for the entire territory, a price reduction of at least €80/ton is recorded, while in the regions of high consumption (Thessaly, Epirus, Western Macedonia, Central Macedonia, Eastern Macedonia and Thrace) where it is estimated that more than 70% of the total consumption of wood pellets for domestic heating, a significant decrease in average price is observed, of the order of €100/ton of product between October 2023 and 2024 respectively.
Therefore, the tendency of retail market prices to return to pre-energy crisis levels is consolidating , at the same time maintaining and as is reasonable the seasonal fluctuation pattern.
Regarding the comparison of heating fuel prices for the month of October 2024 ( Graph 3 ), based on the net calorific value of each fuel, it appears that wood pellets have the lowest cost at 7.67 cents/kWh (including 24% VAT).
Wood pellets in modern devices and heating systems offer a time – reliable combination of affordable, environmentally friendly and renewable energy . The use and operation of wood pellet heating systems in Greece and internationally is fully in harmony with the modern lifestyle and is based on advanced technological and aesthetic features that provide a comprehensive experience of thermal comfort to consumers.
→Visit the official website of wood pellet price index of the Greek market.
Graph 1: Average retail price of wood pellets | 15kg packaging with VAT | October 2024
Grpah 2: Average retail price of wood pellets | Reduction for 1 ton | October 2024
Grahp 3: Comparison of heating fuel prices in Eurocents/kWh | October 2024
