RAE, the Regulatory Authority for Energy, appears set to adopt changes proposed by electricity market players for the authority’s package concerning new electricity bill pricing rules, including an appeal by suppliers urging the authority to avoid imposing a 30 percent limit on a clause enabling them to increase or decrease prices in accordance with wholesale price swings.
The authority’s proposal for this 30 percent limit, announced on July 16, prompted considerable reaction from electricity suppliers, who warned it would stifle competition, adding the Greek energy exchange does not possess tools that can offset wholesale-related cost.
Electricity suppliers have incorporated clauses into their electricity bills enabling price adjustments in accordance with wholesale price level increases or decreases.
The imposition of a 30 percent limit, up or down, would inflict even greater financial pain on smaller electricity suppliers, protesting market players warned.
RAE’s revised rules, seeking to offer consumers greater electricity-bill clarity and price-comparing ability, will be forwarded for a follow-up consultation procedure, possibly as early as this Friday. Otherwise, the procedure is seen commencing within August.