Retail electricity price increases were highest in Athens in August, a monthly 33-city Household Energy Price Index survey conducted by energy research and consultancy firm Vaasaett has shown.
Athens’ retail electricity price increase for August was estimated at 34 percent, a rise that falls to 14 percent if fixed tariffs, far more expensive, are not factored into the calculations.
In Athens, fixed-rate tariffs are priced two to four times higher than floating-rate tariff deals offered by electricity suppliers.
Athens’ 14 percent price increase in August is a more realistic result than the study’s 34 percent rise, which takes into account fixed-rate deals, as virtually all consumers are not favoring fixed-tariff agreements given the far greater cost entailed.
The study bases its results on electricity tariffs offered by respective city market leaders, based on most recent market shares.
Fixed tariff-rate electricity deals are becoming increasingly uncommon, and more expensive, throughout Europe as suppliers are hesitating to offer such deals given the heightened level of market uncertainty.
In Greece, state subsidies are only available for consumers with floating-rate tariff agreements, making fixed tariff-rate deals even less popular.