Electricity: Lower prices in October

Down nearly 9% is the average megawatt-hour price for September, showing signs of easing after a quarter of strong price increases that forced the government to pull subsidies for electricity out of the drawer.

With the current picture of prices and barring some other extraordinary events, prices for October are expected to remain at the same level or even lower as the average price of a megawatt hour is currently 118.37 euros compared to 129.83 euros in August and 135.54 euros in July, which is recorded in the summer calendar as the most expensive month. The fall in tariffs is accompanied by an 8% drop in electricity demand, which is a characteristic feature of autumn, as well as the increase in imports, which so far account for almost 20% of the volume of transactions.

October charges

However, the final price that consumers will be announced next Tuesday, October 1, and will be determined based on the trading policy of energy suppliers in both green and yellow electricity tariffs, taking into account the evolution of wholesale prices in the last week of the month.

A first glimpse of October’s tariffs was given yesterday by Metlen, which is the largest electricity provider after PPC, which announced that it will maintain the same trading policy next month. The attitude of energy suppliers and the prices and discounts they offer the market will determine whether or not the electricity subsidy measure implemented since August by the Ministry of Environment and Energy will be maintained or not. Although the amount of the subsidies has a minimal contribution to the final cost of electricity paid by Greek households (in the range of 1 to 2 euros on an average monthly bill), the government nevertheless chooses to keep it on the table as an extraordinary measure as long as electricity prices “tweak” upwards.

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