Medium-voltage consumers face further power cost increases following the introduction of a wholesale price-related clause by power utility PPC, the main supplier to this category, which includes super markets and retail chains.
PPC was also forced to introduce a wholesale price-related clause for the low-voltage category in August, as a result of skyrocketing wholesale electricity prices.
Unlike rival power suppliers, who have adopted wholesale price-related clauses, the power utility had previously only included a CO2 emission rights clause in its supply agreements.
This latest energy cost increase could end up overwhelming some of the medium-voltage category’s energy-intensive consumers, defined as enterprises with energy costs representing at least 30 percent of their total business costs.
Costs for producers in Greece have risen by levels ranging between 20 and 40 percent, according to industry association Hellenic Production. The energy crisis is making stronger impact on producers in Greece as wholesale market negotiations for electricity are conducted through the intraday market, whereas most energy deals in other European markets are based on bilateral agreements at fixed prices, the association noted.
Even so, the energy crisis is being felt by industrial players throughout the continent. A group of eleven major producers representing various sectors, including steel and cement production, have urged EU leaders to take emergency action to counter the extreme energy cost increases, a major threat to post-pandemic economic recovery.