Electricity suppliers are expected to announce reduced variable green tariffs later this week ranging between 2 and 15 percent, for February, compared to the current month’s levels.

February’s electricity tariffs, set to be announced by suppliers on Thursday, are projected to range between 12 and 14 cents per KWh, a forecast based on January’s average wholesale electricity price and the assumption that suppliers will maintain their discounts at current rates.

Wholesale gas prices have remained below 30 euros per MWh over the past few weeks, which has resulted in a lower market clearing price for January, compared to December.

Suppliers who had announced variable green tariffs of slightly over 14 cents per KWh for January are expected to lower these tariffs for next month by one or two cents per KWh.

Under the country’s new electricity tariff system, introduced January 1, suppliers are entitled to revise their discounts to variable green tariffs on a monthly basis, at the beginning of each month.

Besides variable green tariffs, the new tariff system also includes variable yellow tariffs, which represent a lesser risk for suppliers as their levels are set at the end of each month, as well as fixed blue tariffs.

The overall offering’s fixed blue tariffs are expected to become more appealing for consumers in February as a result of a revision that will lower their duration to at least six months, down from at least 12 months, as was initially set.

A ministerial decision on this decision is expected today, enabling the revision’s implementation on time for February.