Electricity pricing

"The order to increase the price of electricity is a reflection of everything that has been happening during the last 10 months of the caretaker government". This opinion was expressed by former energy minister Alexander Nikolov on the National Television.

The European Commission said on Monday it had decided not to prolong emergency measures introduced last year to shield consumers from soaring energy prices, adding those measures had helped to contribute to a calming of European energy markets.

The upcoming winter that will be without electricity and natural gas subsidies is one of the big concerns that the new energy minister and the whole government that will emerge from the June 25 election will need to manage.

The majority of electricity suppliers have announced reduced tariffs in June (compared to those in May), following the decline in prices on the Energy Exchange.

Greece was among the cheapest markets in Europe in terms of the price of electricity paid by households in the fourth quarter of 2022, while in the same period it had the most expensive wholesale markets. 

The Ministry of Environment and Energy has extended the suspension of the "adjustment clause" in electricity tariffs for one more quarter, until September 30, along with the extension for the same period of the excess revenue recovery mechanism in the wholesale electricity market; since last July to date, this has contributed over 3.25 billion euros to the Energy Transition Fund for subsidizing

Since the beginning of the year, the export of electricity has decreased by nearly 66 percent, and the production of electricity has shrunk by a fifth compared to the same period last year, according to the data of the Electricity System Operator, BNR reports.

Motivated not by the search for the cheapest kilowatt-hour, but by "escaping" their bills, the phenomenon of consumers moving from one retail electricity provider to another has been dubbed "energy tourism" by supply companies, and it has become the bane of the market.

The summer schedule for lower household electricity tariffs at off-peak times will take effect from Monday, May 1, and will last until October 31, the Hellenic Electricity Distribution Network Operator SA (ADMIE) announced on Thursday.

The summer schedule for the residential night-time tariff provides reduced rates between 11 p.m. and 7 a.m. 

The government has extended caps on the retail prices of electricity and natural gas for households, small commercial consumers and protected consumers until the end of the year, as has caps on retail electricity prices paid by SMEs.