RAE: Electricity prices in Greece are at the European average

By Harry Floudopoulos

Detailed information from all electricity suppliers regarding whether the amount of the subsidy decided by the government has been transferred correctly, has been requested by the Energy Regulatory Authority, as revealed today by the president of RAE Th. Dagoumas. According to Mr. Dagoumas, on the occasion of the subsidy of the Energy Transition Fund and in order to have a deeper understanding of the market, detailed data have been requested for each of the approximately 7 million active benefits in the Greek market. In this context, audits are carried out on suppliers in order to determine whether the benefit of the subsidy as a whole has been transferred from the measures of the State.

In the context of an informative teleconference with journalists, the president of RAE stressed that the accusations that have come to light that the Greek market is the most expensive in Europe are not valid. According to Mr. Dagoumas, based on the data of the first half of 2021, Greece seems to be in the European average. The cost before the crisis for Greece was close to or below the EU MOD. at 70 euros / MWh when in Germany it is at 300 euros / MWh and in many other countries close to 200 euros / MWh. Regarding the latest data of the Commission that show Greece higher, Mr. Dagoumas stated that these do not include subsidies for electricity bills and therefore do not reflect the full picture of the Greek market. The president of RAE admitted that in the Greek market the percentage of the correlation of the wholesale market with the retail prices is high (65 to 70%), a fact that is attributed to the fact that bilateral contracts are not applied in Greece.

Regarding the possibility of regulatory actions at European level and changes in the market model for dealing with the energy crisis, Mr. Dagoumas estimated that it is difficult for the European regulator ACER to accept changes.

Mr. Dagoumas also stated that in about 2 months from today the new standard electricity bills will be implemented in which the consumer will be able to be informed in detail about the offered tariff of the supplier, if it is fixed or fluctuating and what are its limits. fluctuations if any.

As part of the end of market surveillance, as stated by the president of RAE, sanctions have been imposed on 5 suppliers for overdue debts, while calls have been launched to hear another 12 suppliers for debts of 2021.