Electricity pricing

Greek inflation slowed to 6.1% in February

The Greek annual inflation rate slowed further to 6.1% in February from 7% in January and 7.2% in February 2022, the Hellenic Statistical Authority said on Monday. However, this development is attributed solely to a drop in electricity prices while the consumer price index in foods and food items jumped 14.8% in the month.

Power subsidies for the industrial sector, too

Environment and Energy Minister Kostas Skrekas will on Tuesday morning announce the subsidies for February electricity consumption, which will be significantly lower than those of January, after the de-escalation of the wholesale electricity price led to a nominal kilowatt-hour price 60% below the current price.

Power rates Europe’s highest

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.