Electricity tariffs expected to be reduced in March

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The Apogevmatini newspaper reports that electricity tariffs will be reduced by at least 30% from March as wholesale prices continue to fall.

A significant fall in European gas prices (TTF), which have now fallen to 22-23 euros per megawatt-hour (from 250 euros in August 2022), combined with the average wholesale electricity price falling below €74 in February (it fell to 61.8 euros, thanks to the contribution of renewable energy sources), create the preconditions for prices to be even cheaper next month than in the period before the energy crisis.

The last time the wholesale price of electricity was set below 80 euros was in May 2021, when consumers had not yet heard anything about expensive gas, the energy crisis and the “adjustment clause”.

Barring shocking upheavals in international markets or changes in supplier rebate policies, from today we could see feed-in tariffs of 8.2-9 cents for consumption of up to 500 kilowatt-hours per week (compared to an average price of 13 .3 cents today and 12.8 cents for PPC, which has the most connections), night green rates of 6.7 cents and yellow rates, which will also be in the range of 8-9 cents for daytime rates and 6-7 cents for night rates.

Unfortunately, even if wholesale/retail prices fall to pre-crisis levels, bills will still arrive even higher than before the war, because, on the one hand, fixed payments have increased to 5-10 euros, and payments for “energy transportation” (ADMIE networks, DEDDIE) increased several times and account for almost half of the final cost of the invoice.

Local taxes (so-called utility taxes) and contributions to radio and television in Greece have also increased, which ultimately leads to the fact that the cost of electricity in bills is often less than all the surcharges and fees.

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