Greek Power Company to “electroshock” 7 million households with 25-40% hikes

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Greek Public Power Company DEH prepares to electro-shock seven million private households with price increases starting from 25% and reaching even 40%. According to Greek media reports, the management of PPC will increase the price of electricity as of 1.1.2013 with an average hike of 25% for private consumers. Millions of households belonging to the so-called low and medium consumption categories will be charged with a real hike of 30-40%. In contrast, there are indications that the more affluent consumers of the higher categories of consumption will pay less.

The price increases will be implemented in three steps, namely one as of 1. January 2013, one as of 1. May 2013 and one as of 1. July 2013, when electricity bills for private households will be fully free and the state will have no more saying in the shaping of prices. This means that after summer 2013, when PPC will go to full privatization, DEH or any alternative power supplier will be able to increase prices per kilowatt without the approval of Greek Energy Ministry.

The  increases in electricity prices will affect mainly poor households and thus in times when unpaid electricity bills amount one billion euro and the PPC proceeds to 30,000 power outages per month.

The government will have to broaden the social power tariff for private households from currently at 250,000 beneficiaries (unemployed, low-incomers, disabled) to 500,000-600,000 consumers.

The management of PPC sent its hikes list to the Regulatory Authority for Energy on Monday. RAE and the Ministry of Environment & Energy will have the final say to the new tariffs that will apply on the new year. (efsyn)

PS I see thousands of households not only unable to heat their homes this winter but also unable to illuminate their dark austerity nights.