Electricity supplier tariffs for April, due, by law, to be announced by midnight, will be at least 2 cents per KWh below levels set for March, while a number of independent suppliers may even offer greater reductions of as much as 5 cents per KWh, sources have informed.

Recently introduced law requires the country’s electricity suppliers to announce their retail tariffs for each forthcoming month by the 20^th of every preceding month.

The anticipated tariff reductions for April will not result in lower energy costs for users, but the government, which has been providing subsidies – through the Energy Transition Fund – during the energy crisis to maintain residential tariffs at between 15 and 16 cents per KWh, will be able to decrease its outlay on subsidies while keeping tariffs at the desired level.

Lower wholesale electricity prices and a current de-escalation of natural gas prices in international markets are the key reasons behind the anticipated reduction in electricity tariffs.

Intraday market electricity prices during the first half of March were approximately 20 percent less than a month earlier and nearly 55 percent below prices recorded in December.