Electricity subsidy trim for consumers, businesses in February

Subsidies offered by the Greek State for household and business electricity bills will be trimmed for the month of February as a result of a slight de-escalation in wholesale electricity prices, authorities have decided.

According to sources, wholesale electricity prices are forecast to average approximately 225 euros per MWh in February, slightly below the average of 235 euros per MWh in December.

Household electricity subsidies for February will once again be inversely related to consumption level, the upper limit for subsidies unchanged at 300 kWh per month. Consumption above this level will not be subsidized.

In January, the first 150 kWh of household consumption was offered 160 euros in subsidies, while consumption between 151 and 300 kWh was subsidized with 120-euro amounts.

As was the case in January, household electricity subsidies in February will be limited to primary residences.

For a second consecutive month, businesses will be offered electricity subsidies at a universal rate, slightly below January’s level of 65 euros per MWh.

Suppliers set to receive third installment covering subsidies

Electricity suppliers will be receiving a third installment covering government electricity bill subsidies offered to consumers in the final quarter of 2021, they were informed yesterday during a video conference with energy minister Kostas Skrekas and Regulatory Authority for Energy (RAE) chief executive Athanasios Dagoumas.

Natural gas retailers will also be receiving a sum covering retail discounts offered in October and November, it is believed.

A fourth installment covering electricity subsidies offered by the government for consumption in December will not be paid until mid-way through next year, it has been previously reported.

A new electricity billing format shaped by RAE, intended to offer consumers greater transparency and price-comparing ability, was also discussed during yesterday’s video conference. RAE has informed suppliers that it will forward today details clarifying certain electricity bill formatting specifications, sources informed.


RAE approves new-look electricity bills offering consumers greater clarity

RAE, the Regulatory Authority for Energy, has approved a new format for electricity bills, designed to offer consumers greater transparency and clarity over charges through a standardized presentation of costs by all suppliers.

The new-look electricity bills to be published by suppliers is part of a wider effort by RAE to empower the positions of consumers, finding it difficult to fully understand electricity-bill details as currently presented by suppliers in a variety of formats.

The standardized format will also help consumers make clear-cut price comparisons between suppliers, thereby stimulating greater competition in the retail electricity market.

Suppliers will soon be sent detailed guidelines on the adjustments they will need to make to their electricity bill presentations.