Electricity pricing

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.

"We will not allow an increase in the price of electricity for household consumers after the complete liberalization of the electricity market". This was stated by Prime Minister Academician Nikolai Denkov before the start of the regular government meeting today.

Wholesale electricity rates may have fallen from €104.98 euros per megawatt-hour in May to €86.90/MWh in June (to date), but this significant reduction will not be reflected in the bills consumers will receive for July, based on kilowatt-hour prices announced by providers.

The price of electricity per kilowatt-hour may have been decreasing continuously in recent months following the de-escalation of the price of natural gas, but the total electricity bill still happens to have increased and is even expected to increase further in the coming months.

"The order to increase the price of electricity is a reflection of everything that has been happening during the last 10 months of the caretaker government". This opinion was expressed by former energy minister Alexander Nikolov on the National Television.

The European Commission said on Monday it had decided not to prolong emergency measures introduced last year to shield consumers from soaring energy prices, adding those measures had helped to contribute to a calming of European energy markets.