Regulation Authority for Energy: Intervention in the clauses of electricity bills

Professor Athanasios Dagoumas during his speech at the 5th Cretan Energy Conference spoke about the hot issue of increases incurred by households and businesses – consumers of electricity, while announcing the intervention of the Authority in two ways:

1. By calling the electricity suppliers for public consultation on the form the wholesale market clauses should have when prices rise. “We are here to protect the public interest and we have invited suppliers to a public consultation on the clauses,” he said, calling for a “new agreement on market transparency.” This is not the first time that the Regulation Authority for Energy has made an effort so as to clarify the terms of the imposition of these clauses to consumers.

2. By making changes in the balancing market in order for Greece to “rapidly adapt to Europe”. It is noted that price fluctuations in the balancing market had provoked strong reactions from both industries and consumers in the last months. “You can be sure that the Regulation Authority for Energy is monitoring the market so as to come up against the inadequacies that will emerge”, added Mr. Dagoumas.

Moreover, Mr. Dagoumas attributed the price increases to the dimensions of the market. “International energy prices, commodities, metals and other transportation costs have recently increased” he added, referring to the surge in international gas prices, emission rights and the increase in electricity demand due to the heatwave. The president of Regulation Authority Energy even mentioned that before the pandemic the wholesale electricity price was at 40 euros per megawatt hour and now it is around 100 euros per megawatt hour.

Mr. Dagoumas also said that the Regulation Authority for Energy has launched a pilot tool for consumer complaints, which go directly to companies and to the Consumer Ombudsman. The Authority will also monitor the progress of requests and the degree of the companies’ responsiveness.