Thodoros Skylakakis

The government appears determined to reimpose a windfall tax on what it considers excessive profits in the wholesale electricity market, where prices have been rising again, even without the approval of the European Union.

As before, the tax will be used to subsidize households' and businesses' electricity bills.

Greece is moving away from mandatory green electricity tariffs toward fixed-rate plans as energy suppliers adapt to regulatory changes set for 2025. The government announced that green tariffs, which simplify price comparisons for consumers, will no longer be compulsory for new customers starting January 1, 2025.

The electricity connection between Greece and Egypt was discussed among other issues by Environment and Energy Minister Thodoros Skylakakis during a visit to Cairo.

Skylakakis and the Greek ambassador to Egypt held successive meetings on Sunday and Monday with his counterpart ministers.

Environment and Energy Minister Thodoros Skylakakis denied that "green" electricity bills were being abolished, according to a ministry announcement on Friday, while clarifying that power providers will no longer be obliged to offer the "green" billing system to new customers from the start of 2025.

The Energy Ministry is putting the finishing touches to the shift of the off-peak charging for electricity consumption from the night to the daytime and those hours when renewable energy source output peaks thanks to photovoltaics and prices in the wholesale market are low.

U.S. Deputy Secretary of State Jeffrey Pyatt, who is in Athens, attended and spoke at an energy workshop today, discussing Greece’s leading role in clean energy development and the potential for exports.

Electricity prices in Southern Europe are up to five times higher than those in Scandinavian countries and nearly double compared to Central and Western Europe, according to an analysis by Eurelectric, the European electricity industry association.

Eurelectric attributes the large price disparities to a reduction in cross-border energy flows.

Greece's energy minister said on Monday the unified European Union electricity market was not working for Southeastern Europe, and that it would work with Romania and Bulgaria toward a permanent solution to soaring power prices in the region.

Cyprus' political leadership is poised to make pivotal energy decisions in a meeting at the Presidential Palace on Tuesday. The gathering is expected to address and resolve several critical issues regarding Cyprus' electrical interconnection with European grids via Greece.

Europe’s initiative to mobilize Europe to de-escalate energy prices is being undertaken by Greece, Romania and Bulgaria, Greece, The Minister of Environment and Energy, Thodoros Skylakakis, announced today while speaking to a radio station.