All island electricity markets to be liberalized start of 2018

RAE, the Regulatory Authority for Energy, has decided to fully liberalize the retail electricity markets of all the country’s non-interconnected islands as of January 1, 2018, the authority’s chief officials announced yesterday at the ongoing Thessaloniki International Fair.

To date, Crete and Rhodes are the country’s only non-interconnected islands whose electricity markets have been fully liberalized.

Island consumers – households and businesses – on all of the country’s non-interconnected islands will be able to select their electricity supplier of choice as of the beginning of next year in a bid to reduce their energy costs, RAE chief Nikos Boulaxis informed.

The Cretan electricity market was liberalized in August, 2016, and Rhodes followed as of January 1 this year.

Approximately 17 percent of consumers on Crete have switched electricity suppliers while between 5 and 6 percent have shifted to alternate suppliers on Rhodes.