Regulatory Authority for Energy

The European Commission considers the Regulatory Authority for Energy's (RAE) decision for the concession of mainland Greece's electricity interconnection with Crete to the Independent Power Transmission Operator (ADMIE) to be invalid.

In a market where power companies are increasingly turning to call centers to advertise electricity packages over the telephone, consumers in Greece need to be cautious when considering switching energy providers, the Regulatory Authority for Energy (RAE) warns.

The Greek government is expected to decide whether to impose a price cap on fuel prices on the islands at the start of next week.

Greece's Regulatory Authority for Energy (RAE) reportedly called on the Economy Ministry to impose a nationwide price cap on fuel prices through an automatic activation mechanism during a meeting on Tuesday. The ministry, however, is said to disagree with the move.

The authorities are expected to impose a two-month price cap on fuel prices in the southern Aegean islands where unleaded gasoline has soared to almost 2 euros per liter.

The Greek natural gas network is seen expanding to another 43 cities and towns across the country, including some of its main islands, so as to offer this cheaper form of fuel to over 32,000 new consumers, most of them households.

The major project of the electrical interconnection between Crete and Greece's mainland grid is under threat following the sudden end to the cooperation between the Independent Power Transmission Operator (ADMIE) and the EuroAsia Interconnector for the project's joint construction.

The results of the first tenders by the Regulatory Authority for Energy (RAE) for new renewable energy source projects - based on the offer of more competitive prices - have come as a shock to the local market.

The domestic players appear unprepared for the entry of foreign investors who offer considerably lower and clearly more competitive rates.

A shadow has been cast over the local power retail market, in which there are 18 active companies, including Public Power Corporation. With a handful of exceptions, all are showing losses from the supply side, including PPC, which holds an 82 percent share.

The money owed to Public Power Corporation (PPC) by Hellenic Post (ELTA) has now been estimated at more than 60 million euros - much more than previously thought.