The burden of low-voltage household consumers and professionals, as well as medium-voltage businesses and craft industries, from the large increases in electricity prices is unprecedented.
Executives of electricity companies speaking to ot.gr estimate that for the period of July to December alone, the aforementioned categories of consumers paid 2.3 billion more euros for the electricity they consume.
According to the available data, the bills for the home customers of all suppliers were “inflated” by 880 million euros, while for the low-voltage professionals the total charge intention is estimated at 825 million euros and for the middle-voltage companies the increases are estimated at 600 million euros.
The additional cost is shocking as, according to market data, throughout 2020, households and businesses consuming 45 million megawatt hours (excluding the high voltage heavy industry) paid electricity bills totaling 3.9 billion euros, with prices being significantly lower than the extremely high ones that have been formed in the last six months.
Increases in electricity are expected to continue not only in the last month of 2021, but also in 2022. Predictions show that, for the first quarter of the new year, the price increases will continue. This is the conclusion reached by market participants looking at TTF gas contracts. Those of January are traded at levels even of 179 euros/MWh, while those of February they are at 176.3 euros/MWh and of March at 166.8 euros/MWh.
The rally in gas prices will also influence electricity prices, given that gas is dominant in electricity generation.
However, as far as our country is concerned, for today in the “day-ahead market” of the energy exchange, a decline of 16.26% of the wholesale electricity price is recorded. From yesterday’s record of 415.94 euros per MWh the price decreased to 348.33 euros / MWh
Latest News
Retail Sales in Greece Up 0.8% in Q4 2024: ELSTAT
Retail businesses in the food and fuel sectors posted a turnover of €6.82 billion in Q3 2024, a 1.2% increase compared to €6.73 billion in Q3 2023
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.