Retail electricity prices for January, set to be announced tomorrow by suppliers, are expected to rise, pushed higher by increased wholesale prices, sources have informed.
Wholesale electricity prices have averaged approximately 300 euros per MWh on the day-ahead market since the beginning of December, up roughly 45 percent compared to June’s average of 205.86 euros per MWh for the equivalent 19-day period.
Even though electricity prices have plunged 50 percent on the energy exchange over the past six days, to 200 euros per MWh from nearly 400 euros per MWh on December 14, suppliers cannot risk subduing prices to December levels. The jittery mood at the Dutch TTF index has not left Greece’s energy exchange unaffected.
January’s electricity prices to be delivered tomorrow by the country’s suppliers – based on a recently introduced rule requiring them to announce their respective price levels for each forthcoming month by the 20th of the preceding month – are expected to range between 0.35 euros per KWh and 0.41 euros per KWh. Supplier prices in December ranged between 0.27 euros per KWh and 0.38 euros per KWh.
Finalized prices for consumers will be lowered by state subsidies offered by the government for electricity. The government is expected to engineer, through subsidies, price levels for households and businesses to between 0.15 euros per KWh and 0.17 euros per KWh.