ECONOMY
Little change in Greek power rates for next month

Wholesale electricity rates may have fallen from €104.98 euros per megawatt-hour in May to €86.90/MWh in June (to date), but this significant reduction will not be reflected in the bills consumers will receive for July, based on kilowatt-hour prices announced by providers.

The market’s largest provider, Public Power Corporation, kept the tariffs stable at 15.5 cents/KWh for the first 500 kilowatt hours and at 16.7 cents/KWh for the highest consumptions.

Some suppliers proceeded with small reductions resulting in the June price after the government subsidy, apparently taking into account the possibility that no government subsidies will be given in July.

The issue of subsidies will be decided by the new government.

Last month, the subsidy was 1.5 cents/KWh.

Service provider officials, however, also invoke the high risk that July traditionally has, due to the possibility of heatwaves, which will raise demand and send prices soaring in the wholesale market.

Source: Ekathimerini.com

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