Conditions for a smooth supply and containment of consumer prices for electricity are formed after yesterday’s developments, which include agreements for the payment of Russian gas and for the mechanism of support for electricity consumers.
Regarding the payments of DEPA to Gazprom, according to the information transmitted by APE, the transaction was completed in accordance with the guidelines of the European Commission, without violating the sanctions and in consultation with Gazprom. “The payment was made in euros and is completely secure,” the same sources said.
The development is moving in the direction followed by other European companies and creates conditions – if there is no reversal of the framework – for the continuation of the supply of the market with natural gas from Russia, which is an important source of electricity production.
Yesterday, also in Brussels, an agreement was reached between the government and the Commission on the basic principles of the new mechanism, restraint of electricity prices.
The main axis of the mechanism is the imposition of a ceiling on the compensation of electricity generation units based on production costs. Thus, a power plant that today – with the current market model – is compensated for the energy that contributes to the system at the price of the most expensive unit participating in the market, henceforth with the implementation of the mechanism will be compensated based on production costs. The restraint of wholesale prices combined with the continuation of the consumer subsidy that has started since September leads to the reduction of electricity retail prices.
The draft legislation for the implementation of the mechanism will be sent to the European Commission next week.
As the Minister of Environment and Energy, Costas Skrekas, pointed out, “the new mechanism, in combination with the horizontal subsidies in the electricity bills, will create an effective protection net for the society that is tested by the explosive increases in energy prices”.
It is also envisaged that the mechanism will not affect the terms of the common European electricity market, which means that electricity exported through international interconnections will continue to be priced in accordance with the existing regime.
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