ELTA reaches final decision to exit retail electricity market

ELTA (Hellenic Post) plans to withdraw from the retail electricity market in May, three years after reaching an initial decision to do so as a result of loss-incurring activity in this market.

The company intends to soon inform customers that they will need to find new electricity suppliers by May 8.

The company, operating through its ELTA Energy subsidiary in the retail energy market, has officially informed local authorities of its decision. The Hellenic Energy Exchange, energy ministry, RAE, the Regulatory Authority for Energy, and all related market operators have received notification of ELTA’s final decision.

ELTA, which entered the retail electricity market in 2017, seeking to take advantage of its extensive retail network around the country, has all but abandoned its interests in the country’s retail electricity market in more recent times.

The company has not participated in monthly price announcements expected from electricity retailers as a recently introduced competitive-minded requirement ten days before each forthcoming month, instead offering a flat rate. Also, electricity bills to customers have been greatly delayed and flawed by billing inaccuracies. These factors have driven customers away.

An attempt by ELTA to sell its portfolio of remaining customers to rival suppliers failed to draw the interest of rival suppliers.