PPC price hikes planned to be offset by lower surcharges

Finalized pricing policy revision decisions expected next week from the energy ministry for the state-controlled power utility PPC  should include reductions of RES-supporting ETMEAR and public service compensation (YKO) surcharges included in electricity bills, the objective being to soften price hikes planned by PPC.

ETMEAR and YKO surcharge reductions would also lower prices offered by the country’s independent electricity suppliers.

The energy ministry is awaiting the results of a study by RAE, the Regulatory Authority for Energy, on YKO and ETMEAR levels before it reaches PPC pricing policy decisions.

In comments offered yesterday, energy minister Giorgos Stathakis assured changes would not increase the overall cost of electricity bills.

The energy minister was prompted to offer consumers this assurance following a call by PPC’s chief executive Manolis Panagiotakis for the implementation of a CO2 emission rights cost clause – it would increase tariffs if CO2 costs exceed certain levels – as well as the reduction of a 15 percent discount currently offered to PPC consumers paying their electricity bills on time.