Athens among 4 European cities with July price cuts

Household electricity prices in Athens fell by 7 percent in July, month to month, making the Greek capital one of just four European cities to register price reductions last month, a latest monthly survey conducted by HEPI, the Household Energy Price Index, has shown.

Retail electricity prices in Athens dropped to 0.218 euros per KWh, below the European average of 0.284 euros per KWh and slightly above the average retail electricity price for 33 cities included in the study, which ended July at 0.217 euros.

Athens was ranked 21st among the HEPI survey’s 33 participating cities in terms of retail electricity cost.

The Greek government’s electricity subsidy program for June and July exceeded 730 million euros per month and will cost over 1.1 billion euros for August.

Besides Athens, three other European cities experienced retail electricity price reductions in July: Vienna (-20%); Madrid (-12%); and Rome (-10%).

Europe’s highest retail electricity prices were recorded in London (0.630 euros per KWh); Copenhagen (0.530 euros per KWh); Rome (0.459 euros per KWh); Amsterdam (0.419 euros per KWh) and Prague (0.409 euros per KWh).

July’s biggest retail electricity price increases in Europe, according to the HEPI survey, were registered by: Vilnius (44%); Amsterdam (37%); London (25%); and Sofia (24%).