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Economy

Greece Considers Measures to Offset Effect of Rising Electricity Prices

September 7, 2021

ATHENS — The Environment and Energy Ministry is considering a series of measures to offset the effects of rising electricity prices on vulnerable consumers. The final decisions will be finalised within the week and will be announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair (TIF).

Among the measures on the table is the extension of the criteria for the implementation of the Social Housing Tariff, which ensures lower charges for financially weak consumers.

According to the Independent Power Transmission Operator (IPTO), the wholesale price of electricity increased to 113.4 euros per megawatt hour in July compared to 62-64 euros at the beginning of the year, while last year, due to the pandemic, it had fallen below 40 euros. The carbon dioxide emission allowances, which burden the production costs mainly of lignite but also of gas units, reached 52 euros per ton in the second quarter of 2021 compared to 22-27 last year.

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