January 31, 2023
Economy, FEATURED
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 …
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January 22, 2023
Economy, FEATURED
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 …
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January 17, 2023
Economy, FEATURED
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 …
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December 29, 2022
Economy, FEATURED
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 …
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December 1, 2022
Economy
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, …
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November 25, 2022
Economy, FEATURED
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 …
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November 17, 2022
Economy
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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October 27, 2022
FEATURED
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 …
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October 27, 2022
Economy, FEATURED
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 …
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October 20, 2022
Economy
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 …
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October 19, 2022
Economy
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. …
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October 3, 2022
Economy, FEATURED
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 …
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September 30, 2022
Economy, FEATURED
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 …
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September 21, 2022
Economy, FEATURED
Environment and Energy Minister Kostas Skrekas announced the subsidies for electricity consumption for the month of October. The new support plan foresees a three-tier subsidy scheme depending on the kilowatt consumption by households. subsidies for natural gas have been also announced. Starting prices for electricity in October have fallen to …
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August 30, 2022
Economy
Greece’s government does not plan to ration electricity supply for households and businesses as other European countries like Germany have adopted, government spokesman Giannis Oikonomou said on Tuesday. Speaking to Skai TV, Oikonomou said that the government is not planning to introduce measures for containing electricity consumption by household and …
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August 25, 2022
Society, Very Mix
A power outage has hit the Sporades islands since 7:30 on Thursday morning, following a strong rainfall at night. The electricity problem has occurred due to a damage at the large substation on the island of Skiathos where the large submarine power pipeline ends. According to local media skiathoslife.gr, it …
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August 23, 2022
Economy, FEATURED
Greece will subsidize power bills of households and businesses with 1.9 billion euros in September, Energy Minister Kostas Skrekas announced on Tuesday. For households, the subsidy is 63.9 cents per KWh, meaning that consumers will pay 15-16 cents of the average price at 0,80 euros. The subsidies will be incorporated …
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August 22, 2022
Economy
Government assistance for households and businesses faced with high electricity bills will total two billion euros in September, Finance Minister Christos Staikouras announced on Monday. The governmental announcement comes right after power suppliers revealed exorbitant price hikes of 65% got September over the weekend. The FinMin revealed also that dozens …
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August 21, 2022
Economy, FEATURED
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. …
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August 19, 2022
Economy, FEATURED
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 …
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