The energy ministry is leaving open the possibility of lifting a revenue recovery mechanism, or price cap, in the wholesale electricity market before December 31, when the validity of all other emergency measures is expected to expire.
The situation in the international energy markets will be assessed over the coming months and the necessity of the wholesale price cap will be decided accordingly, energy minister Theodoros Skylakakis noted in a latest announcement.
Electricity producers are pushing for an end to the wholesale market price cap before December 31, noting the price cap is distorting the market, according to sources.
In addition, electricity producers, who have presented their cases to the energy ministry, have noted that retail electricity subsidies, if needed as a result of any new price rally, could be provided by the RES special account.
As things stand, electricity retailers will continue pricing their electricity as they have done over the past year or so, when emergency measures were introduced, by announcing each forthcoming month’s price levels on the 20th of each preceding month.