Projected electricity tariff increases due to a sharp rise in CO2 emission right costs are already impacting the Greek electricity market. For the time being, price hikes are being imposed on large-scale energy-intensive commercial consumers in the low-voltage category and medium-voltage customers.

The main power utilty PPC has increased its CO2 emission right costs surcharge by almost five times, from approximately 2.5 euros per MWh last year to just under 12 euros per MWWh at present.

Though independent suppliers do not calculate CO2 emission right costs as a separate surcharge, they have been forced to adjust prices offered to existing mid-voltage customers, lifting overall electricity costs to levels of at least 62 euros per MWh.

Prices have surged to even higher levels of over 70 euros per MWh for large-scale commercial consumers in the low-voltage category.

These price levels would have been even higher had independent suppliers not purchased lower-priced electricity amounts at NOME auctions.

The system marginal price (SMP), or wholesale electricity price, has risen to levels of over 70 euros per MWh, a significant increase compared to just a few months ago.

Ir remains unknown how suppliers plan to shape pricing policies for low-voltage household, commercial and professional consumers, representing a big part of the market.