Gov’t to work with Romania, Bulgaria to fight surging power prices, minister says

Published by Kathimerini on Mon, 09/09/2024 - 16:47

Electricity bills will be even lower in March, as the continued de-escalation of gas rates drags down the price of electricity in the wholesale market. For March, the charge per kilowatt-hour on the green tariffs is estimated to move to 10 to 11 cents, while for the yellow-marked tariffs the charge will drop to pre-energy crisis levels, with the price per kWh even below 8 cents. Given the forecasts of a further decline in the price of electricity in the wholesale market, providers are rushing to readjust the green tariff factors that will be effective from April, thus limiting the benefit for the consumer. Rate adjustment is allowed quarterly.

The unified EU electricity market was not working for southeastern Europe and the government will work with Romania and Bulgaria towards a permanent solution to soaring power prices in the region, Energy Minister Theodoros Skylakakis has said.

Greece has been getting nearly half of its energy from solar and wind parks at low prices, but like other nations in southern Europe it has seen a periodic surge in prices during the warm summer months when demand for air conditioning is high and power supply from other interconnected countries is short.

"Power links are not enough to carry power from the central European market to the southeastern one. This leads to extreme prices on some days, something that cannot be accepted," Skylakakis told a radio station.

He said the target model for a unified EU electricity market was not working. Prime Minister Kyriakos...

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