“The framework of the new mechanism, which will be implemented from July in order to lead to a de-escalation of electricity prices, was agreed in Brussels. energy“, Stressed to SKAI the Minister of Energy Costas Skrekas, referring to his meetings with the competent commissioner of the Commission.
Mr. Skrekas explained that in the coming days the bill will be submitted to Parliament, which will describe exactly how the mechanism will work, so that the parliament can give the final approval.
The minister said that according to plan power plants will be reimbursed not on the basis of the stock market price of energy, but on the basis of their actual cost.
He explained that this difference is large and in this way the state recovers it and promotes it to the energy transition fund, in order to return it to consumers.
According to Mr. Skrekas The new mechanism, combined with horizontal subsidies on electricity bills, will create an effective safety net for a society plagued by explosive energy price hikes.
What the agreement with the EU provides
The two sides agreed on the following:
• Next week will be sent to European Commission draft legislation describing how the mechanism works.
• The mechanism will not affect the terms of the common European electricity market.
• A ceiling is provided for the compensation of electricity generation units based on the actual cost of their production.
• The difference between the compensation and the stock market price of electricity will be transferred to the Energy Transition Fund (TEC) and will be committed to financing consumer support measures to offset the effects of the international energy crisis.
• The new mechanism achieves the disconnection of high gas prices with electricity prices to consumers.
• The National Support Program for the energy crisis announced by the Prime Minister, Kyriakos Mitsotakis, provides for the imposition of an indirect ceiling in the retail market, with the additional subsidy of the accounts.
• From May the subsidies are valid for all the houses, main and non-main, without income criteria and for the total consumption.
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