A new variable tariff formula that suppliers will need to adopt as a means of improving price-comparison clarity for consumers and stimulating competition will be launched as planned, January 1, when energy crisis measures will be withdrawn, ending subsidies for consumers, energy minister Thodoris Skylakakis confirmed at a meeting yesterday with top officials of ESPEN, the Greek Energy Suppliers Association.

The single variable tariff formula, which all suppliers will need to include in their overall package of tariff offers to consumers, is being introduced with a large proportion of consumers in mind and will allow price comparability of companies’ offers, promoting competition, the minister stressed.

Suppliers called for greater flexibility to the single variable tariff formula so that they could make monthly adjustments, based on prevailing wholesale electricity prices.

All pending retail electricity market issues were tabled during the meeting. These include planned reimbursements for electricity suppliers who have been forced to cover an estimated 800 million euros, overall, in subsidies offered by the state during the energy crisis as support for small and medium-sized enterprises; stricter market rules preventing consumers with unpaid bills from switching suppliers; as well as the imposition of a time limit, for users, on the country’s universal electricity supply service, offered as a last-resort solution by the top five suppliers, based on market share, to black-listed household and business consumers who have been shunned by suppliers over payment failures.