Electricity pricing

Public Power Corporation's green tariff for July rose 14% compared to June, versus a 22% increase in the wholesale price of electricity during the same period.

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.

The energy crisis may be a thing of the past, but the Greek wholesale electricity market remains one of the most expensive in Europe, with the average price being the fourth highest in the European Union in both 2023 and the first quarter of 2024. 

The fluctuation in wholesale electricity rates augurs badly for the formation of consumer electricity tariffs in April.

In the first 12 days of this month, the average price in the wholesale market stood at €74.01 euros per megawatt-hour, up from €72.86/MWh in February.

Electricity bills will be even lower in March, as the continued de-escalation of gas rates drags down the price of electricity in the wholesale market.

For March, the charge per kilowatt-hour on the green tariffs is estimated to move to 10 to 11 cents, while for the yellow-marked tariffs the charge will drop to pre-energy crisis levels, with the price per kWh even below 8 cents.

More than 250 million euros from the European Regional Development Fund (ERDF) will finance the first stage of high-voltage electricity infrastructure between the island of Crete and the Attica region, the European Commission announced on Thursday. 

Deputy Environment and Energy Minister Alexandra Sdoukou emphasized the potential for Greece to adopt dynamic electricity rates, akin to European counterparts, during her address at the Ecomobility Conference in Athens on Wednesday. 

The time to choose colored electricity tariffs has arrived and consumers will be pleasantly surprised, since the prices across the range of rates are lower than what they have been paying until now with subsidies.

The time to choose the right electricity rate has come, and the universe seems to have conspired with consumers and supported the efforts of the minister of environment and energy, Thodoros Skylakakis, to reduce prices.

Energy-intensive industries in Bulgaria are facing a severe threat of curtailed operations or potential closures due to the soaring electricity prices. Dobri Mitrev, the head of the Bulgarian Industrial Association (BIA), highlighted this pressing issue, revealing that the budget for 2024 lacks provisions for energy compensations across various sectors.