Consumers must examine, compare offers amid scene of many choices

The country’s energy market is being transformed, offering added value to consumers, as well as more attractive conditions for market players and investors. More specifically, reforms adopted last December with the intention of opening up the retail electricity market have led to a proliferation of retail electricity suppliers, now numbering nearly twenty. The intensified competition has increased the options available for consumers, offering considerable benefits in many cases. However, amid this multitude of offers, consumers need to remain aware in order to choose offers that best suit their profiles, as pointed out in a consumer guide prepared by RAE (Regulatory Authority for Energy) official Nektaria Karakatsani.

The RAE official notes that consumers should avoid being instantly impressed by the size of discounts offered by suppliers. Consumers need to check the conditions under which these discounts apply as well as their durations, the official notes.

Consumers are also advised to establish a good understanding of their respective profiles before making any decisions. Other factors included in the RAE official’s guide include calculating the benefit of any choice over at least a one-year period; making accurate  comparisons; becoming familiar with electricity bill details; checking for any additional terms and costs; examining contract obligations, guarantees, and checking for additional services that may be offered by alternative offers.

Consumers intending to switch supplier must first have settled any amounts owed to their existing supplier, or register for installment-based payback programs, in order to benefit from any new supply arrangement, the RAE official stresses in her guide.