“The inadequacy and the choices of the government are leading Greek society and economy to a dead end”, the responsible heads of the Energy Department of SYRIZA-PS, Sokratis Famellos and Peti Perkas, state in their announcement on the occasion of the announcement of electricity prices for the month of August and add: “besides the hypocrisy of the government, they show that it is taking us into uncharted waters in energy, but with sure accuracy for consumers and sure super profits for the cartel in the electricity market.”
In their statement they argue: “Instead of repealing or suspending the clause in August, as promised, Mr. Mitsotakis ultimately chooses to drive electricity prices to record levels. Prices did not fall, but instead went up. If the type of clause applied until recently then, the August price for PPC would have been around €420/MWh, since the clause would have been based on July’s average wholesale price of €340, which would have been added to the fixed tariff of €110 /MWh, which was given a 30% discount. With the new arrangement, the prices on PPC’s residential tariff rose to 486 euros/MWh (minimum), i.e. 15% above the previous opaque and abusive framework of the predatory Mitsotakis readjustment clause . And while the rest of the suppliers announce prices in the broader area of ​​500 euros/MWh, i.e. even higher. Today’s statements by Mr. Skrekas also confirmed that they have been making super profits for a year now, since the Temporary Mechanism for the day-ahead market will collect for July the amount of 500 million euros from excess profits that the government has so far left unchecked to burden Greek consumers, because it “couldn’t find them”.
The sector heads estimate that the new government framework will cause “a stir with the movement of millions of consumers in five days”, and at the same time that it “leaves a lot of room for new profiteering”.
They conclude: “The government has announced that it will continue the precision subsidy for another month with a record amount of €1.136 billion, hiding that this is consumer money that was badly collected in previous months. Also hiding that the Energy Transition Fund is highly doubtful that it will have the room to continue such a high accuracy subsidy in the coming months unless power price accuracy is effectively addressed.But this time the government has certainly said nothing about taxing the actual surplus profits of 2.2 billion euros in the last 12-months, based on the report of the SYRIZA PS and the data of RAE. As a matter of fact, he did not say about the new super profits created by the new mechanism that allows more than 1 billion euros to the energy cartel and mainly to the PPC”.
Source: AMPE
Source: Capital
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