Lower December retail electricity prices lessen subsidy needs

Lower retail electricity prices for December, down by an average of 10 percent compared to the previous month, will result in lower subsidy support for consumers, as the government aims to maintain retail electricity prices at a level of about 15 to 16 cents per kWh.

Under recently introduced new rules, suppliers are required to announce prices for each forthcoming month by the 20th of the preceding month.

Given the forthcoming month’s new electricity price levels, subsidies will be trimmed to levels of between 0.21 and 0.22 cents per kWh, down from 0.238 euros per kWh in November, to keep retail electricity prices at 15 to 16 cents per kWh. These figures apply for monthly consumption levels of up to 500 kWh.

December’s electricity subsidies, to be funded entirely through the Energy Transition Fund, without the need for state budget contributions, are expected to be worth 200 million euros, down from 243 million euros in November.