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Electricity up to 65% as Greece’s suppliers announce Sept tariffs

Massive hikes reaching up to 65%  in electricity prices were announced by the power suppliers in Greece, laye on Saturday. The announced nominal electricity tariffs are for September and are expected to put households and businesses budgets on fire in a country where citizens are struggling with a 11.5-12% inflation.

One of the most expensive providers is the semi-state supplier PPC (DEH) with 0.788 euros per kilowatt-hour for consumption up to 500 kilowatt-hours per month.


PPC Tariffs August & September 2022.

According to recent media reports, already 45% of Greek households are in arrears, unable to pay off the massively inflated electricity prices in effect since August 2021..

It is worth noting that the final prices that will apply to consumers will depend on the amount of the subsidy, expected to be announced by the government, possibly on Tuesday or Wednesday..

According to media information, the government seeks to maintain final consumer prices in September close to the level of August.

According to media, with the subsidy of 0.34 euros, consumers in Greece would pay 0.15-0.16 euros per Kwh. However, if the government wants to maintain the low price for consumers, it will have to increase the subsidy to 0.64 euros per Kwh.

The indicative prices announced on Saturday by several electricity providers reportedly are:

PPC: 0.788 euros per kilowatt-hour for consumption up to 500 kilowatt-hours per month and 0.8 euros for more than 500 kilowatt-hours. The charge for the night tariff is 0.747 euros. Fixed fee 3.5 euros per month.

Protergia: 0.78213 euros per kilowatt hour and 0.77855 for the night tariff. Fixed fee 5 euros per month.

Heron: 0.750 euros per kilowatt hour and 0.6 with a 20% consistency discount. Fixed 3 euros per month.

Elpedison: tariffs depending on the program range from 1.0864 to 1.1367 euros per kilowatt hour, while a return (loyalty pass) is foreseen next month, which for August was set at 0.4 euros per kilowatt hour.

NRG: 0.748-0.768 euros per kilowatt hour. Fixed 1.8-5 euros per month.

Zenith: 0.687 – 0.697 euros per kilowatt hour. Fixed 4-4.5 euros per kilowatt hour.

The price of electricity on the Stock Exchange is currently at high levels (377.72 euros per megawatt hour) despite the reduced demand and the increased (20.9%) participation of lignite in the energy mix.

According to the current framework, suppliers announce by the 20th of each month the tariffs that will be applied the following month, thus providing the scope for consumers to change supplier.

Under the current framework, consumers can change supplier without any conditions and fines.

See also: Another “electroshock” for Greece’s households and businesses

On social media, Greeks lash out at the new electricity price hikes, and even at the subsidy saying that the government is plundering every month the state cash registers filled with tax payers money in order to give “presents” ahead of the elections.

In the same wavelength, many note that consumers subsidize themselves with their own money, while the government’s friends are earning billions.

Many have criticized the government several times that it did not try to get cheap electricity deals like Spain and Portugal or did not put a price cap.

“But the high price of electricity in the country, highest in EU next to Malta, is the primary result of the policy of all Greek  governments of the last 10 years, which chose to go against international developments in order to preserve established interests, at the cost of undermining the competitiveness of the economy,” noted daily kathimerini in July 2020, long before the Russian invasion of Ukraine which the conservative government blames of any price hikes, including energy, of course.

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  1. Well done muppets. Well done. It’s all done on purpose of course. The Green nightmare and other destructive agendas are the reason for this. And anyone blaming Putin is an idiot who has no idea what’s going on

  2. I wish these two former Soviet Union states would hold peace talks immediately. So much death and destruction which is extremely saddening. It also appears the sanctions imposed on Russia are having (and will continue) to have a dramatic adverse effect on the living standards in Europe. What a mess….

    • Peace talks only work if Russia leaves all the occupied Ukrainian territory. Otherwise Russia will just regroup in 5-10 years and attack again. Look at the history, 2014 Russia takes Crimea, then follows this up with taking the Donbas area. Now Russia is occupying over 20% of Ukrainian. Even if Russia retreat to just having Donbas or just having Crimea they will be back stronger if Ukraine let’s them stay on their territory. Putin won’t give in like that, so the war has to continue until Ukraine can defeat Russia.

      • Yes, I get what you say to some extent. there are many scenarios that may play out (one is yours above) and much has played out in that part of the world after the fall of the Soviet Union (except the promised peace dividend!). This part of the world has all sorts of horrifying history, particularly the last century and even prior to that,which i guess why there is so much hatred on both sides of these former Soviet Union states. Unfortunately we are not reading a book where we can pick our favourite ending so there needs to be compromises.
        As far as the sanctions imposed by Europe are going they seem to be hurting Europe 100 times as much as Russia….