The majority of the country’s electricity suppliers are reportedly set to announce new fixed tariffs as soon as RAAEY, the Regulatory Authority for Waste, Energy and Water, makes an official announcement, expected today, authorizing 6 and 8-month fixed tariffs, in addition to one-year fixed tariffs already offered through Greece’s recently introduced new tariff system.

In the lead-up to the RAAEY announcement, the energy ministry is expected to clarify, to the authority, details of related ministerial decision that was deemed to contain certain ambiguities.

Competition between suppliers is expected to intensify for fixed tariffs, growing in appeal to consumers who view anticipated rates at levels of as low as 11 cents per KWh over shorter-term periods as an attractive and secure option.

Under the latest revisions, suppliers will be able to include termination clauses in their terms for fixed tariffs.

A color-coded tariff system was introduced in Greece on January 1 to simplify the price-comparing ability of consumers.

Fixed tariffs have been dubbed blue tariffs, while variable tariffs are offered as either yellow or green tariffs, the former representing a lesser risk for suppliers as their levels are set at the end of each month.