Public service compensation system revised, October launch

Revised public service compensation (YKO) surcharges for electricity bills, recently announced by energy minister Kostas Skrekas, will come into effect as of next month, households of the previous system’s three consumption level categories facing a uniform rate of 1.7 cents per KWh.

The revised public service compensation system is expected to result in an additional 300 million euros, annually, for a risk hedging mechanism.

The revisions will result in a public service compensation increase of 1.01 cents per KWh for low-voltage consumption levels of up to 1,600 KWh during a four-month period, as this category’s existing rate is 0.69 cents per KWh.

On the contrary, the public service compensation cost for households using greater electricity amounts will be reduced as the existing surcharge for consumption levels between 1,601 and 2,000 KWh is 5 cents per KWh and 8.5 cents per KWh for consumption over 2,000 KWh.

Medium-voltage consumers will face a public service compensation increase, from 0.69 cents per KWh to 1.7 cents per KWh.

The public service compensation surcharge rate will remain unchanged at 4.14 euros per MWh for energy-intensive industrial consumers.

Under the new system, farmers using low-voltage electricity will face increased public service compensation surcharge rates, as will municipalities, for their road lights.