Regulatory Authority for Energy

The money owed to Public Power Corporation (PPC) by Hellenic Post (ELTA) has now been estimated at more than 60 million euros - much more than previously thought.

The first three electricity auctions since the renewable energy sources market's new status was introduced will take place on July 2.

The auctions concern 300 MW of annual capacity from photovoltaics, 300 MW from wind power and 400 MW from joint photovoltaics and wind power units.

Sources familiar with the privatization of natural gas network operator DESFA expect the deal for the sale of a 66 percent stake in the company to close by the end of February or early March.

The leftist Greek government has clashed with the country’s energy providers over the continuation of a special levy (ELAPE) imposed in order to balance the renewable energy sources account, which is a bailout obligation.

Consumers have still not received a definitive answer regarding a potential increase in their electricity bills to cover the cost of charges for subsidized services, known as YKO, between 2012 and 2015.

Electricity consumers will have to pay an extra 375 million euros from early 2018 to end-2022 in order to cover the cost that the Public Power Corporation paid in the 2012-15 period for subsidized services.

Electricity consumers can expect another small hike in their power bills from the start of 2018, and substantially bigger ones in the following five years, after the conflict between Public Power Corporation and the Regulatory Authority for Energy regarding the subsidized services to remote areas for the period from 2012 to 2015 was brought to an end.

The Regulatory Authority for Energy (RAE) will grant a two-month deadline to the new shareholders of the Independent Power Transmission Operator (ADMIE) for submitting a binding timetable regarding the electricity connection of Crete to the country's continental network.

The Regulatory Authority for Energy has begun scanning the market for the concession of the project to connect the power supply of Hania and the rest of Crete with Greece's main grid to another investor in case the Independent Power Transmission Operator (ADMIE) proves unable to meet the timetables set.

After the recent hike in power rates due to the extra charge for utility companies included in the bills, the Regulatory Authority for Energy (RAE) is considering the introduction of income criteria when it comes to covering the costs required to supply power to the islands.

"We cannot subsidize all consumers regardless of their income," is the view held at the power regulator.