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New electricity tariffs without adjustment clause to be announced

Energy suppliers in Greece will have been announced new electricity tariffs by next Sunday, July 10, media report. The new tariffs will not include the adjustment clause and will be effective as of August, 1, 2022

The government aspires with the combination of measures implemented in the wholesale and retail market to absorb more than 70% of the price increase and to reduce  the cost of the kilowatt-hour close to the level of last autumn.

On the other hand, developments in the international market regarding the price of natural gas are not favorable and market sources express reservations about the effect of the interventions.

However, the government reassures that if necessary, the budget expenditure on energy subsidies will increase.

PS after a year of electricity bills demanding exorbitant amounts, the government finally decides to intervene. Snap elections in October?

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