Electricity: wholesale prices reduced by 37%, changes in tariffs

In the first 12 days of October, the energy exchange (Χρηματιστήριο Ενέργειας) recorded a significant drop in electricity prices – by more than 37% compared to the same period in September.

At the same time, changes in the energy mix used by companies to produce electricity have prompted the Ministry of Environment and Energy decide to reduce fees for households under the so-called “night” tariff.

The feed-in tariff has not been cancelled, says Skilakakis

Wholesale electricity prices from 1 to 12 October were 87.09 euros per megawatt hour, significantly lower than the 139.88 euros per megawatt hour recorded from 1 to 12 September. According to experts, in November a decrease will also be observed in the retail supply of electricity (that is, for household consumers and businesses). It is worth noting that in October, most electricity suppliers adhered to moderate pricing policiesAnd.

Tariff changes

As the share of renewable energy sources in the mix used by companies has increased, electricity prices have changed at certain times of the day.

The increase in the use of photovoltaic and wind energy, especially in the production of low-cost energy during the morning hours, causes stock market prices to decline compared to the evening hours. Electricity prices also remain lower on weekends.

In this regard, the Ministry of Environment and Energy initiates changes in tariff zones with lower electricity tariffsYu. According to Minister Theodore Skilakakis, announcements regarding new zones with the cheapest tariffs are expected in the near future. Today, the night tariff has two schedules: summer – from May 1 to October 31 – valid from 23:00 to 07:00, and winter – from 02:00 to 08:00 and from 15:00 to 17:00.

Mr Skilakakis describes the new zones with the cheapest tariffs as follows: “Two consumption zones will be created for domestic consumers. In general, the cheapest prices will be available from 10am to 3pm, depending on the season, and during very long hours on the weekends, which are usually cheaper. So we will be making this change (from night mode to two new zones) and there will also be seasonality in this change. The exact timing of the creation of zones will be determined in approximately two weeks” Information suggests that second new zone will be valid on weekends for 10-12 hours a day.

Green tariff

From January 1, 2025, changes will also affect colored electricity tariffs. As is known, on December 31, 2024, the institutional framework for the establishment and mandatory provision by suppliers of a special or feed-in tariff for electricity consumed by the population expires. According to Thodoros Skylakakis, with On January 1, 2025, the mandatory distribution of the unit tariff for electricity will not apply.

Household consumers those who decide to remain on the feed-in tariff, regardless of whether they are active or inactive (the services to whom they belong are not clear), will be able to remain in this category.

In addition, the market trend shows that suppliers will maintain individual products (promotions and offers) in the palette of “colored” electricity tariffs.

Blue invoice

The intentions of the Ministry of Environment and Energy are to encourage domestic consumers to choose a fixed or blue tariff for electricity. Fixed charges for a period of 6 or 12 months respectively protect consumers from extreme and sudden changes in electricity prices. In Europe, it is noted that the majority of consumers have contracts with fixed payment for electricity.

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