Electric power

Mobile alerts via SMS or Viber will be sent to consumers with smart meters when the price of electricity in the next day’s wholesale market is about to exceed 200 euros a megawatt hour.

A new rate category for electricity will be introduced within the year that will charge use by businesses in real time, every 15 minutes, affording them the opportunity to reduce their energy costs.

At 1.6 cents per kilowatt hour, the extraordinary support on electricity bills for August consumption is set at 1.6 cents per kilowatt hour, the Ministry of Environment and Energy announced.

Thus, the final price for the majority of consumers (which depends on the tariff of each provider) is formed below 15 cents per kilowatt hour.

Power has been restored to a Thessaloniki general hospital after supply issues left it without electricity for a short period.

The problems began at Gennimatas General Hospital when the power supply to the hospital failed early on Friday morning.

The institution then switched to generators but briefly lost power when the oil that fuels them ran out.

For July, the Public Power Corporation (PPC) is offering the second-largest discount since the introduction of special tariffs earlier this year, keeping green electricity rates low for most consumers. The PPC’s 31% discount absorbs a significant portion of June’s 22% increase in wholesale prices, resulting in a household electricity rate of 0.1355 euros per kilowatt-hour.

June is seeing major hikes in the "green" electricity rates, after the wholesale price jumped in May to 81.08 euros per megawatt-hour from €60.11/MWh in April.

Grid losses and power thefts in 2021 and 2022 have been ascertained by Greek power grid operator DEDDIE to amount to 500 million euros. The bill was sent to providers, which in turn are passing it on to consumers.

Therefore, while wholesale electricity prices are going down, consumers will see no benefit in April nor the next few months.

Special tariffs will come into effect on January 1 for consumers who use smart meters for electricity consumption, designed by electricity suppliers in compliance with the decisions of the Ministry of Environment and Energy for the new framework that will determine retail electricity as of 2024.

The Ministry of Environment and Energy announced on Tuesday that it will continue to support electricity consumers in August with a total amount of 19 million euros.

Aluminium of Greece has become the first industry to utilize the demand response service in the balancing market, in which electricity is bought and sold in real time to ensure the stability of the electricity system.