The country’s electricity suppliers are expected to announce today their formulas for green tariffs, being introduced as of January 1, when energy-crisis measures will be lifted, as well as their basic supply charges.

Suppliers will factor in discounts and profit margins to their green-tariff formulas by the end of December so that they may be able to announce their finalized green tariffs by January 1.

Consumers will be able to make green-tariff level comparisons by viewing a price chart to be uploaded by RAAEY, the Regulatory Authority for Waste, Energy and Water, on its website. This chart will be updated monthly.

As of tonight, electricity suppliers will need to post, at highly viewable website positions, their formulas for the new green tariff, accompanied by prices of the following basic rates: The basic supply price, to remain fixed for a six-month period, from January to June, 2024; upper and lower price limits, as well as an “A” factor, adjusting the effect of the average market clearing price and, into which, each company will incorporate its risk margin.

The task is extremely challenging, one company official has pointed out, explaining that, in order to arrive at a final formula, his company needed to compare countless combinations of the aforementioned factors.

Electricity retailers, warning green tariffs will cost more than variable tariff, categorized as “yellow” tariffs, are already encouraging customers to choose variable tariffs as a lower-cost option.

The new green tariff will be introduced January 1 and be implemented automatically, for all consumers, unless they formally object and choose the variable yellow tariffs.