Electricity suppliers have had to cover a total of 575 million euros in subsidies offered by the government to consumers for January and February, while, according to sources, the energy ministry has promised to provide this amount to suppliers by the end of the month.
This delay has further increased the pressure on suppliers, forced to deal with significantly higher operating costs as they are spending bigger amounts for wholesale electricity purchases, severely impacting liquidity. Wholesale electricity prices have quadrupled compared to a year ago.
Repeating previous requests, electricity suppliers have once again urged the energy ministry to deliver the relevant subsidy amounts, which will stem from the Energy Transition Fund.
The pricing policies of suppliers have varied, largely based on assumptions, as the government has delayed offering details on its latest electricity subsidy package. A universal package for all low-voltage consumption was terminated as of January.
A study conducted by RAE, the Regulatory Authority for Energy, following an energy ministry request, has shown overall market confusion as well as inconsistencies in the level of subsidies offered by suppliers to consumers. Some subsidies were lower than what they should have been and others higher.
Many consumers have criticized the energy ministry for poor management of the support measures.