A spike in wholesale electricity rates across Europe this week, which were even more pronounced for Greece, in tandem with recent power outages and shortages across southeast and central Europe have raised alarm bells within the Greek government, with another round of subsidies now considered.
The development also follows widespread dissatisfaction by numerous business owners in the country who were called upon last week to reimburse past power subsidies.
The price for electricity on Monday, July 15, 2024, increased by 37% from the previous rate, to close at 191.13 euros per MWh.
A closely watched meeting is scheduled for Tuesday, chaired by Prime Minister Kyriakos Mitsotakis at the Maximos Mansion with the energy and environment ministry’s leadership, to discuss skyrocketing wholesale electricity rates.
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates – for electricity until the end of the summer.
Consumers that chose – or didn’t choose and were, by default, lumped into the “green” program – the variable rate (green) program or a special program are expected to see major increases for power prices next month, August.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
PM Mitsotakis to Chair New Democracy’s Committee Meeting
Today’s meeting is seen as a crucial opportunity to halt internal disputes within ND and reaffirm unity within the party.
Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy
EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.
Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses
Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.
Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
