Greeks pay the highest electrical power prices in europe

Greece has had the highest electrical power price in the EU for two successive days, according to the EU Day-Ahead Market Prices. The government pledges to take further measures to deal with an escalating energy dilemma, while the opposition urges action versus the “energy cartel”.

On 18 April, the wholesale rate of a megawatt-hour was evaluated EUR255.95, while a day later it skyrocketed to EUR287.45, a 12.3% boost within a day. The picture does not alter for 20 April, as the map below suggests.

On 18 April, the wholesale price of a megawatt hr was evaluated EUR255.95 while a day later it skyrocketed to EUR287.45, a 12.3% rise within a day.

Greek conservative PM Kyriakos Mitsotakis pledged to expand financial support to accomplish the lowest possible power costs for customers, households and also services.

He kept in mind that high power prices are an “imported trouble” as well as called on once again on EU partners to find up with an EU-wide feedback.

At a top in late March, Mitsotakis called on EU leaders to agree on capping gas rates, nonetheless for now there has been no consensus.

” All the same, nevertheless, the federal government is dedicated to remaining to support power customers through a subsidy scheme that will certainly continue next month,” the Greek leader claimed, adding that the brand-new measures will certainly have to show the reality of public financial resources.

For its component, the opposition charges the government of avoiding taking extreme procedures to tackle the “power cartel”.

” The federal government is asking for solutions from Europe in order not to conflict in the excessive earnings of the Greek energy cartel, which completely moves the expenses to the customers,” claimed Socrates Fammelos, a leftist legislator from the Syriza primary opposition party.

Similarly, socialist Haris Doukas (Pasok) stated taxes on power firms’ super profits need to increase as well as concurrently, VAT on items should be decreased to offer consumers some breathing room.

Electrical power prices have skyrocketed in the European Union in recent months, which has brought about calls to reform the way they are established.

Currently, the EU’s wholesale market is a system of minimal pricing. That suggests that all electrical energy generators obtain the same price for the power they are selling at a provided moment.

Yet the price of electrical energy differs commonly depending on the power resource utilized to create it: the cheapest being renewable resource resources while nonrenewable fuel sources are a lot more pricey.

National electricity manufacturers make their proposals on the market and the bidding goes from the most affordable to one of the most expensive energy source with everybody getting the rate of the last manufacturer where electrical power was purchased, according to the European Commission.

Advocates say this version is the fairest as well as is cheaper for customers in the future.

But as nonrenewable fuel sources (from petroleum items to coal as well as natural gas) represented nearly 70% of the EU’s energy mix in 2020 and also with a lot of it imported from 3rd countries, it means the bloc is highly at risk to rate changes.

The reopening of the global economy from COVID-19 lockdowns, which brought about a surge in power demand worldwide, and also Russia’s battle in Ukraine, which prompted Moscow to curb gas flows to Europe punitive for sanctions, have actually led to a dramatic increase in nonrenewable fuel sources cost.

Rising rising cost of living and power bills have caused objections throughout Europe, with some leaders currently supporting for the cost of electrical energy to be decoupled from gas in order to reduce the worry on households and also companies.

In order for customers to be protected from high electricity expense, they have to make detailed contrast among electrical power companies (συγκριση παροχων ρευματοσ) relating to the electrical power supplier (εταιριεσ ρευματοσ) that they will pick
in order to replace their existing power supplier (αλλαγη ονοματοσ δεη).