Wholesale electricity prices averaged 233.80 euros per MWh in November, up 18 percent compared to the previous month’s average of 198.32 euros per MWh, energy exchange data has shown, a rise expected to trigger a new round of price rises in the retail electricity market.

Wholesale electricity prices have remained high so far this month, but a slight de-escalation has been experienced compared to November’s levels.

The average day-ahead market price average for today is 216.18 euros per MWh, slightly below the average of 226 euros per MWh for the first six days of the month.

Elsewhere in Europe, even higher prices have been registered, reaching levels of nearly 300 euros per MWh in some parts of the continent.

The Greek government’s decision to offer subsidies worth 39 euros per month promises to offer some relief for household consumers.

Responding to wholesale electricity price rises registered in October, the energy ministry decided to increase its subsidy offer to cover wholesale price levels as high 220 euros per MWh.

The government has not ruled out the possibility of further increasing its subsidy package, if deemed necessary.

In addition, the administration is also working on a mechanism that will be designed to intervene automatically to increase subsidy levels, taking into account wholesale electricity price levels and the RES special account surplus.