Greece will seek one exemption as well as a revision to three European Commission proposals intended to raise funds from the energy market to help households and businesses cover costlier electricity bills when the EU’s energy ministers stage a crucial meeting this Friday.
Greek energy minister Kostas Skrekas will strive for the continuation of a revenue recovery mechanism without a lifting of a price cap on natural gas-fueled power stations.
The European Commission has proposed a maximum price for all electricity generation technologies (RES, nuclear, hydropower without storage, lignite, biofuels and geothermal), with the exception of gas. However, the Greek model has featured a price cap on gas-fueled units since July.
According to sources, if Greece is unable to keep its price cap on gas-fueled units, then a surcharge of 10 euros per thermal MWh of natural gas quantities used by electricity producers will be imposed. This measure, announced last week, would raise 400 million euros annually, market officials have estimated.
Greece is also expected to seek revisions to a Brussels proposal aiming for a reduction in electricity demand. Athens, sources informed, wants Brussels’ proposal for a 5 percent electricity consumption demand to be optional, not compulsory, as the European Commission has proposed. Major Greek industrial players have reacted against this measure, citing reduced competitiveness abroad.
Greece will adopt an extraordinary 33 percent tax on windfall profits earned by Greek refineries in 2022, Brussels’ third measure, the energy minister informed during a SKAI TV interview on Saturday.