Sharp rise in prices for electricity, gas and petrol

The continuing frantic rise in energy prices has led to a sharp rise in the cost of electricity, oil products and gas.

No one can predict with certainty when this race will stop, and when prices will begin to decline or even stabilize.

In the new bills, which will soon be received by citizens, they will see how much electricity prices have risen. Already in October, it jumped to 200 euros per megawatt-hour, which is almost 50% more than in September. The new tariffs will rise by 200%.

Gasoline prices are rising

According to a detailed report by the leading OPEN TV channel Vasilisa Spanos, the price of 95th gasoline in some island regions of the country, such as Milos and Serifos, has already reached 2.17 euros, while on Patmos its price has risen to 2.119 euros per liter.

A liter of 95 gasoline costs a little less than 2 euros in Kefalonia (1.923 euros), while the highest gasoline price on the mainland is recorded in Karpenisi (1.908 euros per liter). It is noted that the average price for gasoline in the country is estimated at 1.76 euros. In fact, starting tomorrow, it will grow by another 1 cent per liter, because biofuel bioethanol will be added to the unleaded mixture.

Petrol prices remain below 1.7 euros per liter in areas such as Patras, Ioannina, Serres, Thessaloniki and Athens, where the average price is estimated at 1.619 euros per liter. But this is not for long, since some gas stations in the capital have already raised the price to 1.79 euros per liter of 95 gasoline.

Sharp rise in electricity prices

The wholesale price of electricity in September jumped to 134 euros per megawatt-hour, and by the third decade of October it is already 199.80 euros megawatt-hour. Experts warn that in the coming months there will be a significant increase in prices in invoices to end customers.

The cost of electricity for 4 months of consumption by a household that requires 375 kilowatt-hours per month was 243 euros in January this year. For the same household, spending for June-September reaches 342 euros, while with the current forecasts for 4 months from October 2021 to January 2022, it is estimated that they could reach 420 euros.

The government will assess the size of the subsidy every month

In the face of skyrocketing energy prices, the government appears poised to increase the subsidy, which will be revised every month. Energy Minister Kostas Skrekas notes:

Now October is coming to an end, in the first week of November we will estimate how the average wholesale price for electricity fluctuated at the October level, and if necessary, we will increase the subsidy to Greek households.

What subsidies can you count on?

The state subsidy for September is 3 eurocents per kilowatt / hour, when the average price per kilowatt / hour has exceeded the 10 cents bar. In October, the subsidy increases to 6 cents per kilowatt / hour, but the price rises to 20 cents.

Development Minister Adonis Georgiadis, speaking at the Open Now program, left open the possibility that measures will be taken to reduce energy costs for enterprises. “Undoubtedly, we are particularly concerned about how to avoid transferring very high energy costs to production,” he said.

Gas prices

A sharp rise in gas prices is also expected (it was he who became the catalyst for the growth of all energy prices). Residents of an apartment, which needs 5,000 kilowatt-hours for 4 months, were paid an average of 162 euros from October to January last year, while this year they will have to pay up to 400 euros, even taking into account a 15% discount.

For vulnerable households facing power outages, there will be four emergency numbers and a new quick reconnect process. According to Mr. Skrekas, the state will cover the costs of reconnection as well as electricity costs in the coming months. The ministry’s decision (ΚΥΑ) signed on Monday will transfer an amount of 470 million euros to this account.

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