Significantly higher natural gas prices in international markets over the past few days will lead to wholesale electricity price increases of between 10 and 15 percent next month, compared to August, in Greece’s day-ahead market, market officials anticipate.
The country’s electricity retailers will be announcing their nominal tariffs for September on the 20th of this month, a monthly procedure required by market rules.
It is estimated that most electricity suppliers will use better-than-expected revenues in August to subdue their tariff increases for September.
Even so, if the price-rise projection is confirmed, then electricity retailers can be expected to announce residential tariffs starting from 10 cents per KWh, including punctuality discounts, and reaching as high as 19 cents per KWh.
Power utility PPC’s pricing policy for next month will be pivotal in shaping the decisions of rival suppliers given the influence the energy company maintains over the market as a result of its dominant market share.
Also, the price levels set by PPC for September will hold significant sway in the government’s determination of whether to provide subsidies and, if so, the extent of such financial support.