The government is moving ahead with a plan to suspend a wholesale price-related adjustment clause included in electricity bills, to follow the ratification of a RES draft bill that includes an order for temporary implementation of a mechanism enabling partial returns of day-ahead market earnings through a wholesale electricity market cap.
According to energypress sources, energy minister Kostas Skrekas appears to have accepted a RAE proposal calling for the suspension, as of July 1, of a wholesale price adjustment clause included in electricity bills.
The energy minister is expected to suspend the clause for a total of 11 months, from July 1 to June 1, 2023, through an energy supply code revision.
Electricity prices for consumers will be controlled through a combination of wholesale market intervention (caps on producer earnings) and subsidy support.
According to the plan, electricity suppliers, as of July 1, will have the choice of offering three types of tariffs: fixed; flexible with upper and lower limits; and flexible without upper and lower limits.