Electric power distribution

The European Commission is set to propose a revamp of Europe's electricity market rules on Tuesday, aimed at expanding the use of fixed-price power contracts to shield consumers from severe price spikes like those experienced last year.

European Union countries will have to protect vulnerable consumers from being cut off by electricity suppliers if they cannot pay their bills, according to draft EU rules due to be published on Tuesday.

Public Power Corporation (PPC) expects its EBITDA to jump by 30% annually after the acquisition of Enel Romania, since the latter has a leading position in the Romanian electricity market.

The European Union has drafted plans to nudge countries towards using more long-term, fixed-price electricity contracts, as part of a reform of Europe's power market designed to shield consumers from price spikes.

Greece remained among the most expensive wholesale electricity markets in Europe in 2022, a year when the average price of electricity increased by 141% compared to 2021.

In the same year, the cost of natural gas imports more than doubled compared to 2021, while it almost quintupled compared to 2018.

The government will compensate companies electricity and natural gas providers for having to sell the energy at capped prices. The measure is worth between 340 and 350 million euro at the annual level.

For the second week in a row, Greece stands on the European map of wholesale electricity markets as the only country that does not reflect the significant de-escalation of the gas price at the Dutch TTF hub, which has returned to the levels before the Russian invasion of Ukraine.

After capping electricity and gas prices for the benefit of households, protected consumers and public institutions, the government has now imposed a price cap on electricity supplied to micro, small and medium-sized companies.

Under a regulation adopted by the government on 30 December, the cap will be in force for six months starting from 1 January.

As electric car ownership rises we will need new infrastructure to avoid overwhelming electricity grids

Electricity was traded on the Bulgarian Independent Energy Exchange (BNEB) at an average price of BGN 419.68 (without VAT) per megawatt hour, according to trading data in the "Day Ahead" market segment after the close of the exchange, BTA reported. Deals are based on tomorrow's delivery day (October 18).