Electric power distribution

Minister of Environment and Energy Thodoros Skylakakis stressed on Friday that in early December the government will announce the interventions to minimize the impact on consumers from the crisis in the electricity market in Southeastern Europe.

Everyone supports the common market but with 26 different policies, Greek Prime Minister Kyriakos Mitsotakis said at the UN Climate Change Conference (COP29) in Baku last week, capturing the essence of what is happening in the European Union electricity market.

Mobile alerts via SMS or Viber will be sent to consumers with smart meters when the price of electricity in the next day’s wholesale market is about to exceed 200 euros a megawatt hour.

In an effort to protect consumers from soaring energy costs, Greece's Regulatory Authority for Energy (RAAEY) has announced a new initiative aimed at providing timely notifications regarding fluctuations in electricity prices. 

The reduced-rate off-peak electricity tariff is to switch to a winter schedule as of Friday, the Hellenic Electricity Distribution Network Operator (DEDDIE) announced on Thursday.

A different landscape in the color layout of electricity charges, with additions and subtractions to tariffs, as well as radical changes to the zone of cheap electricity and everyday habits, is planned by the government from the beginning of the year. The changes make green tariffs optional and emphasize fixed tariffs that offer pricing certainty without surprises.

The wholesale electricity market is sending signals of stabilization or even a slight reduction for October's floating rates.

Down nearly 9% is the average megawatt-hour price for September, showing signs of easing after a quarter of strong price increases that forced the government to pull subsidies for electricity out of the drawer.

Greece's energy minister said on Monday the unified European Union electricity market was not working for Southeastern Europe, and that it would work with Romania and Bulgaria toward a permanent solution to soaring power prices in the region.

The trajectory of wholesale electricity prices during the final weeks of the month will be a key factor in deciding whether the government will extend the August subsidy into September. In August, the subsidy helped shield Greek households from the sharp price hikes experienced in July, offering support of 1.6 cents per kilowatt-hour.