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Economy

Skrekas: Consumer Rates for Electricity Set at 15-17 Cents per KWh

ATHENS – Final consumer prices for electricity were set at 15-17 cents per kWh in August, Environment and Energy Minister Kostas Skrekas said on Monday. More specifically, the subsidy for household bills, without any income criteria, for electricity consumption covering all houses (primary residences and others) is set at 337 euros/MWh (0.337 euros/kWh). The total sum of subsidies will reach 1.136 billion euros in August, absorbing 90% of price increases for household consumers and 80% of price increases for small- and medium-sized enterprises.

The electricity prices announced earlier by electricity suppliers were: PPC 0.486 euro/kWh, Heron 0.495 euro/kWh, Protergia 0.54913 euro/kWh. Srekas said that the benefit from the introduction of a new mechanism of collecting excess profits in the electricity market in the first month of implementation was 500 million euros (in Spain the same mechanism collected 250 million euros).

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