Electricity suppliers announced lower bills for May, with prices set very close to the target set by the government for final charges to consumers. More specifically, PPC reported a charge of 15.9 cents per KWh for energy consumption up to 500 KWh (16.5 cents in April). Protergia: 13.96 cents/KW Heron: …
Read More »
Fees for electricity distribution rise by 752.7%, collected retroactive
Greece’s Energy Regulator Authority (RAE) increases charges in the electricity distribution network as of May 1 and thus retroactive. The charge increases reaching over 7 euros will be collected by the Greek Electricity Distribution Network Operator (DEDDIE) and is reportedly “intended for investments and other [undefined!]expenses of the company.” With …
Read More »
Greece at risk of blackouts during the Easter days, Distributor warns
Greece is at risk of blackouts during the Easter days, the Independent Power Transmission Operator (ADMIE) has warned. Reason for the problem is that this year, the participation power production by the Retail Electricity Suppliers (RES) has increased and there are still no energy storage units that could provide energy …
Read More »
Energy Ministry reduces electricity subsidy to €15/MWh
Greece’s Energy Minister announced on Friday the electricity subsidy for the month of April, that is ridiculously decreased to 15 euros per MWh. The minimum rate charged for electricity in April will fall below 9 cents per kilowatt hour based on the subsidies for next month, Environment and Energy Minister …
Read More »
Lower electricity rates in April, yet Greece “most expensive in Europe”
The majority of Greek power providers have announced significantly lower rates for April, following the easing of prices in the Greek energy exchange and in international markets. In many cases the prices are already lower than 15-16 cents per KWh, which is the target price for consumers after including state …
Read More »
Electricity interconnection of Cyclades islands signed
Hellenic Cables, the cables segment of Cenergy Holdings, signed a contract with Independent Power Transmission Operator (IPTO) on Monday,, in the context of the 4th phase of Cyclades interconnection with the continental Electricity Transmission System, concerning the electrical interconnections of Lavrio-Serifos and Serifos-Milos, Greece, with a total length of 170 …
Read More »
State subsidy for electricity bills in March
Τhe subsidy for household electricity tariffs for March has been set at 40 euros per megawatt hour, according to statements by Environment and Energy Minister Kostas Skrekas on Tuesday morning. In other words, the amount of the subsidy remains at the same as in February, whereas the rates announced by …
Read More »
Greece heavily cuts down electricity subsidy in February
State subsidy on household electricity tariffs for February, for 90% of consumption up to 500 KWh per month was set at 4 cents per kilowatt hour or 40 euros per megawatt hour, Greece’s Energy Minister announced on Tuesday. For higher consumption over 500 Kwh, the subsidy is linked to energy …
Read More »
Significant reduction in power bills coming in February
Significant reductions in electricity bills for household consumers in February were announced by the Public Power Corporation (PPC) and other power providers on Saturday. In the announcement, it was noted that the final consumer price depends on the amount of the electricity consumption subsidy announced every month by the Ministry …
Read More »
Electricity prices fall sharply in Greece
Wholesale electricity prices fell below 100 euros/MWh in Greece for the first time in 18 months. Electricity prices for tomorrow, Wednesday, January 18, were set at 86.77 euros/MWh in the Greek Energy Exchange, falling below the 100-euro barrier for the first time since August 2021, media report. Market analysts attributed …
Read More »
Why Greece has the highest electricity price in the wholesale market
Why Greece presents the highest electricity price in the wholesale market? In Germany the price has fallen to 13.58 euros per MWh, in Romania is 94.50 euros. Why is it 248.24 euros per MWh in Greece? The peculiarity of the Greek wholesale electricity market in terms of the integration of …
Read More »
Electricity producers to pay over €373 million tax on ‘excess profits’
The Athens Tax Office on Wednesday confirmed that electricity producers owe 367,067,027.54 euros in total for the extraordinary levy of 90%, based on the increase of their gross profit margin for the period October 2021-June 2022. This amount, as stated by Finance Minister Christos Staikouras, is payable until December 30, …
Read More »
Gov’t announces subsidies for electricity, natural gas for December
Greece’s Ministry of Environment and Energy announced on Friday the subsidies for electricity and natural gas for the month of December. Electricity subsidies for households and businesses depend on the monthly consumption, while the natural gas aid is only for households and is horizontal, that is independent of residence size …
Read More »
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 …
Read More »
Greeks should limit electricity consumption in the evening, says minister
Energy Minister Kostas Skrekas issued a recommendation for citizens to reduce electricity consumption by 5% as Greece is obliged to do according to EU member-states agreement. “Greece in the coming months has a goal to reduce energy consumption during peak hours by at least 5%. So the effort of all …
Read More »
Greek Gov’t announces electricity subsidy for Nov & natural gas
Environment and Energy Minister Kostas Skrekas on Thursday morning announced the size of the state subsidies for electricity bills in November as well as a flat rate subsidy for natural gas users. At the same time the minister made a recommendation to citizens for energy/electricity saving of 5% [more details …
Read More »
Greece proposed construction of power line to Austria, Germany
Greece has submitted a proposal for the construction of a direct electricity interconnection with Austria and Germany, with an initial capacity of 3.0 gigawatts, Environment and Energy Minister Kostas Skrekas revealed at the Renewable and Storage Forum on Thursday. “It is not an easy project but there is great need …
Read More »
Significant decrease in electricity prices expected in November
A significant decrease in electricity prices is expected as of November, following the reduction of both electricity prices on the energy exchange and international natural gas prices, the market reportedly estimates. These are the nominal prices which – according to the legislation – are announced by the suppliers every month. …
Read More »
Which are the peak hours Greece considers to reduce electricity from Dec 1
From December 1, Greece will have to put into effect the decisions of the Energy Ministers’ Meeting held on Friday, September 30, which provide, among other things, the goal of a mandatory 5% reduction in electricity consumption during peak hours, but also a voluntary reduction by 10% of the total …
Read More »
EU Energy ministers agree on mandatory electricity reduction of 5% in peak hours
EU Energy Ministers reached a political agreement on measures to mitigate high electricity prices: mandatory electricity reduction at 5% in peak hours, cap on market revenues from inframarginal electricity producers and solidarity contribution from fossil fuels producers, the Czech Republic that is currently holding the rotating EU Presidency said in …
Read More »