Renewable energy policy
New electricity tariffs and extra subsidy
Environment and Energy Minister Thodoros Skylakakis on Thursday announced a series of measures regulating the electricity market that aim to protect retail customers after the horizontal subsidies stop on January 1, 2024. There will also be a subsidy for up to some 1.2 million vulnerable consumers, he stated.
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Bulgaria has the Lowest Electricity Prices for Households in the EU
Average electricity prices for households in the first half of 2023 in the European Union are the lowest in Bulgaria (11.4 euros per 100 kWh), BGNES reported.
After a significant price increase that began before Russia's invasion of Ukraine but spiked in the second half of 2022, electricity and gas prices are stabilizing, the EU statistics office "Eurostat" said.
Some subsidies to continue as handout expectations are dampened
Government plans call for a gradual withdrawal of income support measures, as the country must once again produce significant primary budget surpluses. Accordingly, the Ministry of Finance has tried to contain expectations of handouts at Prime Minister Kyriakos Mitsotakis' keynote speech at the Thessaloniki International Fair on September 9.
Greece’s electricity bill state subsidies for August
The Ministry of Environment and Energy announced on Tuesday that it will continue to support electricity consumers in August with a total amount of 19 million euros.
Little change in Greek power rates for next month
Wholesale electricity rates may have fallen from €104.98 euros per megawatt-hour in May to €86.90/MWh in June (to date), but this significant reduction will not be reflected in the bills consumers will receive for July, based on kilowatt-hour prices announced by providers.
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Heron signs deal with Meton Energy
Heron Group on Wednesday announced the signing of long-term power purchase agreements (PPAs) with RWE Renewables Europe & Australia and PPC Renewables, through their joint venture Meton Energy.
Under the terms of the agreement, Heron will supply approximately 192 gigawatt-hours of green electricity each year.
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Reduced electricity tariffs for June
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.
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Expensive MWh, cheap KWh
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.
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Reduced electricity tariffs in June
Reduced tariffs in June (compared to those in May) were announced by the majority of electricity suppliers, following the decline in prices on the Energy Exchange.
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Electricity rates coming down in May
Electricity suppliers announced on Friday lower bills for May, with prices very close to the target set by the government for final charges to consumers.
More specifically, Public Power Corporation reported a charge of 15.9 cents per kilowatt-hour for energy consumption up to 500 KWh, down from 16.5 cents in April).
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