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Another “electroshock” for Greece’s households and businesses

A new “electroshock” is underway for Greece’s households and businesses as the starting price for KiloWatt- hour can even be scaled up to 80 cents as from September, media report on Friday.

Ahead of August 20, when the retail prices of the supply companies for the month of September will be announced, the omens for electricity consumers are grim, notes daily efimerida ton syntakton.

Market information indicates that the initial kilowatt-hour price for the next month may even be escalated up to 80 cents. The final prices applicable to consumers will depend on the amount of subsidy announced by the government with the average wholesale price today jumping to 449.14 euros per megawatt hour compared to 410.72 yesterday (August 18)..

It is recalled that for August the initial price from most suppliers ranged between 48 and 50 cents with government support reaching 33.7 cents per kilowatt hour.

Based on the above data as well as the international prices of natural gas which remain stable well above 200 euros, the electricity providers are invited on Saturday (20/08) to announce their new tariffs.

August is expected to close with natural gas at 210 euros on average compared to 170 euros in July and based on the decisive role of this fuel, a corresponding increase in bills is expected.

According to the current framework, suppliers announce by the 20th of each month the tariffs that will be applied for the following month, thus providing consumers with the option to switch to another supplier thus without any conditions and fines.

What is happening in other European countries?

As recorded in today’s report by newspaper “Ef.Syn” in contrast to Greece,  wholesale prices fall in big European countries: in Germany the average price fell from €563.7 yesterday to 515.1 euros, in France from €553.6 to 509.8 and in Italy from €549 .1 in 501.3.

The Iberian peninsula remains the only island of calmness in Europe, as Spain and Portugal keep their wholesale prices stable at around 135 euros per megawatt hour. It is recall that both countries were granted exceptions by the European Commission it tough negotiations by both prime ministers.

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10 comments

  1. There you are then it’s confirmed now, the fairly tale about wind turbines and solar panels producing cheaper electricity, it’s just all make believe. The reason?
    greed, greed and more greed, and that people will ultimately be the downfall of mankind, either greed with money or greed with land.
    Well here’s a little heads up for the greedy ones…….., you came into this world with nothing, and you will depart with nothing.

    • in fact the wind turbines exist for quite the opposite reason. they might accidentally produce some erratic and unreliable electricity but they very reliably produce subsidy payments for those corporations who have the political connections to get them installed.
      (dont froget that almost all of the installations are in locations which would be illegal for you or me to put up so much as an outhouse!) The magic was that after the ‘green’ mania had been sold to the population at large, anything that was officially blessed by the green priesthood was able to justify the most grotesque corruption as long as they tossed a few pennies to the right green priests and prophets to keep their absolutions from sin up to date. Politicians and pals then could with a straight face shovel truckloads of money pretty much directly into their own pockets having robbed it a penny at a time from basically all the rest of us.
      of course any time anyone tries to even call them out on this corruption, immediately the ‘climate change’ boogieman is rolled out to threaten the children with scary bedtime stories.

    • They just want to complete that phrase: And you will own nothing and be happy! Enjoy life.

    • Before the current increase in the price of fossil fuels, on shore wind turbines were producing electricity at a lower cost than fossil fuel powered generators. Solar is still more expensive but continues to fall, largely due to massive deployment of solar panels in China. The problem in Greece is not the cost of solar power but the relatively small amount of it. Greece is still massively reliant on imported gas all bought on the world market at today’s highly inflated prices. France mainly uses nuclear power and has had relatively small increases in the price of energy compared to other countries.

    • Well said.
      Corruption will always prevail!!

    • The people mostly profiting are the companies producing fossil fuels not the companies generating electricity. Fossil fuel production costs have not changed at all but the price has risen massively. That increase goes straight on their bottom line. For electricity generators their costs have risen in line with the price of fossil fuels so their increase in price does not necessarily represent an increase in profit. It is possible that electricity generators have used the increase in fuel cost to increases their prices by more than is necessary and hence also make an increased profit but if that is happening then it is the regulator that has failed, i.e. the government.

  2. Maybe It’s time the government initiated massive subsidies, especially to domestic consumers, for the
    installation of solar panels to ease the pain of these exorbitant electricity prices.
    You’re right Chris: nothing but greed.

  3. GR the average wholesale price today jumping to 449.14 euros per megawatt hour compared to 410.72 yesterday

    in Germany the average price fell from €563.7 yesterday to 515.1 euros,
    in France from €553.6 to 509.8
    and in Italy from €549 .1 in 501.3.

    In other words GR is cheaper

    • keeptalkinggreece

      Chairman of KEPKA Tsemperlidis told state ERT Monday morning: price is at 540 euros today.
      *comment approved despite such nichname