Electricity price scenarios for the coming months

The increase in electricity tariffs in previous months is related to the situation that has recently occurred in neighboring countries, says the energy inspector.

“The price increase that occurred in July, mainly due to demand from neighboring countries and increased energy consumption due to the heat, does not seem to continue in August,” energy inspector Evangelos Panos told ERT, noting that Electricity prices have been relatively stable this month.

“Wholesale prices are around 105 euros per megawatt hour, compared to 140 euros in July,” Mr Panos said. Speaking on a TV programme, he mentioned the cost the most common electricity tariff is green“The prices in the green tariff range from 16 to 22 cents per kilowatt-hour without subsidies. And with a subsidy, for some consumers, the price can reach 15 cents,” he said. “The subsidy provided to some consumers is about 1.5 cents per kilowatt-hour, which reduces the final price somewhat.”

Touching on yellow tariffs, he specified that the price per kilowatt-hour will be announced later, and regarding the “blue” tariffs, he stated that “there are companies that offer a low price, but a certain period of time”.

As for September, the situation, according to him, remains uncertain. “It is difficult to predict what will happen in September as there are many external factors that can affect the market, such as the price of natural gas and geopolitical events in the Middle East,” said E. Panos.

Explaining the reason for the rise in consumer billshe replied that it was is connected with the situation that has developed recently in neighboring countries“The demand from the Balkans for electricity at high prices is also directly affecting the Greek market. In July, this demand pushed prices to extreme levels, reaching 900 euros per megawatt-hour in the evening hours,” he added.

Discussing future prices, he noted that fluctuations will continue because “the energy market works like a stock market, that's why we we will observe periods of ups and downsIt is essential to avoid a gradual increase in prices on average, as has happened from 2023 to the present day.”

Speaking of “smart counters”which are gradually being installed by DEDIE, the energy inspector stressed that “they areallow consumers to see the price per kilowatt-hour and adjust their consumption accordinglyusing electrical devices during lower-rate hours.” As specified, The costs of replacing these meters fall on the shoulders of consumers.

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