Alternative options depending on preferences, consumption profile and the risk that the electricity consumer is willing to take ensures the new operating framework of the market established by the Ministry of Environment and Energy.

Each option has advantages and disadvantages. which are mainly related to the magnitude of the risk: lower risk means relatively higher prices. The positive, however, for whatever choice consumers make is that the transition to the new framework takes place at a time when electricity prices are falling. Indicatively, the average price of electricity on the Greek stock market in December is close to 102 euros per megawatt hour, compared to 110 in the summer and 190 at the beginning of 2023, while in 2022 at the height of the crisis it had exceeded 430 euros. Thus, market estimates indicate that the “green” tariff may start in 2024 lower than 14 cents per kilowatt-hour.

As reported to the Athens Agency, energy market factors, the sufficiency of supply and the large reserves of natural gas in Europe’s warehouses, combined with the mild winter so far, prescribe a further reduction in prices without, however, ever being able to rule out any cause that would lead to an increase.

Consumer options include:

-Green invoices, established by the ministry in order to ensure a smooth transition to the new framework and to which all consumers will transfer (unless they declare a different choice to their supplier). The green invoice charges will be announced by each supplier on the 1st of the month and will be both easily and directly comparable to each other. The suppliers’ announcements about the prices at which the “green” tariff will premiere according to the law must be made in the New Year. However, it is not excluded, as ministry sources clarified, due to the holiday and the fact that the system is being implemented for the first time, that some providers will announce the prices by January 2-3.

-Blue invoices, with a fixed kilowatt-hour billing price for the entire duration of the contract (e.g. one year). The main advantage of the blue tariff is that the consumer is protected from possible price increases. On the other hand, if prices fall, the consumer will not benefit as the blue tariff charge will remain the same. In recent weeks, competition has developed among suppliers on fixed tariffs, with offers starting as low as 15 cents per kilowatt hour.

-Yellow invoices which are fluctuating and follow the fluctuation of prices in the international and Greek market. Charges are announced either in advance (at the beginning of the month of consumption) or in retrospect. Consumers who choose them will benefit if prices continue to fall or, conversely, be burdened if prices rise.

-Orange invoices with different charges per time zone which are aimed at those with a smart meter.

The transition from one tariff to another as well as the change of supplier is free, without compensation for the supplier except for those with fixed price contracts (blue tariff) from which the withdrawal is made by paying compensation for early termination of the contract.

Market sources estimate that the majority of consumers will switch to the green tariff (although there is also increased interest in the blue fixed charge tariff) and many will reassess their stance at the beginning of the year with the full picture of the tariffs that will be announced by suppliers .