Recently appointed energy minister Theodoros Skylakakis expects to have a detailed draft for a debt-flagging data system covering the energy market by September, the official has reiterated in comments to local media over the past fortnight.

The prospective debt-flagging data system, a topic discussed for years by market officials as a solution to the accumulation of unpaid receivables burdening energy suppliers, would detail energy-bill payment records of consumers for all market players to see.

Once introduced, the debt-flagging data system, to be fashioned in the style of an equivalent system used by the banking sector, would enable energy suppliers to check consumer payment records before they sign up new customers.

Following years of hesitation, rival electricity suppliers now appear far more willing to cooperate on the implementation of a debt-flagging data system as all have been victims of runaway consumers exploiting loopholes to switch suppliers despite owing previous energy-bill amounts.

The local retail energy market’s unpaid receivables, including amounts that have gone down as bad debt, have ballooned to exceed one billion euros.

It remains unclear if the energy market’s debt-flagging data system will be launched this year or next, but the latter appears most probable as work is still required to finalize the plan.

One thing for certain, the energy market’s rules will change. Current rules do not restrict consumers from switching suppliers, even if they are behind on energy bill payments to existing suppliers.

The problem worsened for suppliers approximately a year ago, when the government, as part of a package of energy crisis measures, included a rule amendment permitting consumers to switch suppliers without incurring penalties for premature withdrawals from contracts.