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Search Results for: adjustment clause

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 …

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Greece freezes “adjustment clause” on electricity bills until July 2023

The “adjustment clause” on the electricity bills is frozen until summer 2023, according to an amendment tabled by the Environment & Energy Ministry late on Friday and in the context of a bill for the simplification of the licensing of energy providers. According to the amendment, the suspension of the …

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Greece’s consumers fight back: INKA files legal action against “adjustment clause” on electricity bills

Greece’s Consumer Institute INKA has launched a collective legal action against electricity providers who impose an additional cost on consumers through the so-called “adjustment clause.” The clause burdens the already and extra charge of often several hundreds euros to the already soaring electricity bills with an extra charge of often …

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Parliament approves bill on taxing electricity surplus profits

The Greek Parliament approved on Wednesday an amendment to tax surplus profits of electricity suppliers. According to the regulation, surpluses are defined as the difference between the “Reasonable Average Retail Price” to be determined by ministerial decision based on costs and a reasonable profit margin, and the actual price that …

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Greece raises households electricity subsidy for July to €200; businesses provisions

There will be significantly increased subsidies to cover the cost of electricity in July, Environment and Energy Minister Kostas Skrekas announced on Tuesday. The subsidy amount per MWH and KWh for households and businesses will rise and thus independent from the income criteria and consumption caps for eligibility. Regarding energy …

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Greek PM to announce plan for electricity rates as first mass lawsuit filed

Prime Minister Kyriakos Mitsotakis will announce the national support plan aiming to relief households and businesses from exorbitant electricity rates. The televised message will be broadcast at 7:00 p.m. on Thursday. The new measures are scheduled to be presented in detail on Friday, May 6, by the finance and the …

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Greece’s Gov’t mulls new support plan as anger over energy prices grows

Alerted by the citizens’ anger over the energy prices and the increasing cost of living the conservative government is promising to come up with a new national support plan for the benefit of households and businesses. The plan is expected to be implemented in June. The national plan will be …

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1,100 power cut orders across Greece daily due to unpaid bills; Greeks mobilize

Greeks rushed to public power company on Easter Wednesday to arrange payment settlements for unpaid bills and avoid being completely cut off from the electricity supply, as providers keep issuing disconnections orders and push for their implementation. With the wholesale price among the highest in Europe and a government that …

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Greek PM announces raise of minimum wage, unemployment benefit

Prime Minister Kyriakos Mitsotakis finally announced the much anticipated increase of the minimum wage as well as an increase of the unemployment allowance. “My decision today addresses the low-incomers and the unemployed,” he said in his televised message. The PM’s pre-Easter gift on Holy Wednesday is 50 euros more per …

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New energy subsidies for February: “Peanuts” for households and businesses

Greece’s Environment and Energy Minister Kostas Skrekas announced on Wednesday the subsidies for electricity and natural gas that will apply in February for households and enterprises. The subsidy for electricity will be 39 euros per MWh for households, that is 3 euros less than in January. The subsidy for enterprises …

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ESM hails Greece’s achievements, criticizes SYRIZA handouts

The year 2018 was a landmark year for Greece, mostly because of the country’s exit from the memorandum in August 2018, the European Stability Mechanism (ESM) said in its annual report on Greece.  At the same time, it warned Greece to stay on reforms path and boast growth-oriented policies, and …

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