According to the Ministry of Environment and Energy, competition is being strengthened
The combination of the decline in international prices with the structural measures to strengthen competition in the energy market implemented by the Ministry of Environment and Energy led to a de-escalation of electricity tariffs for February.
The “green” invoices suppliers’ February rates posted on the Regulator’s website are significantly lower than in January: It is indicative that January’s green tariffs ranged from 13.635 to 19.8 cents per kilowatt-hour while in February they start at 11 cents and scale up to 17.82 cents.
On the “front” of international prices, the most important development is the de-escalation of natural gas prices, below 30 euros per megawatt hour, while a year ago the price was more than double (close to 70 euros). The prices for carbon dioxide emission rights are also at a two-year low (from November 2021), close to 65 euros per ton, while a year ago they were above 100 euros.
Interest now turns to the other categories of tariffs which are expected to be announced immediately. The blue invoices (fixed for at least one year with an early exit clause) are expected to be adversely affected by the decline in international prices. In January the constants ranged from 12.9 to 36 cents per kilowatt-hour but with significant differences in the fixed price as well, from zero to 10 euros that change the picture of the final cost for the consumer depending on the level of consumption.
Regarding the yellow invoices the reaction of the suppliers is expected following the intervention of the Ministry of Environment and Energy which allows the offer of mixed products (fixed for a period, fluctuating thereafter) as well as the availability of contracts lasting less than a year.
Specifically for the duration of the contracts, the decision signed by the Minister of Environment and Energy, Thodoros Skylakakis and the Deputy Minister Alexandra Sdoukou. provides in principle that the minimum duration of the electricity supply contract offered by the provider to the consumer is set at one year from the date on which the provision of the service begins. However, providers are given the opportunity to offer their customers contracts of a shorter duration, if the consumer requests it and/or agrees to the relevant supply offer proposed by the provider. In any case, the minimum period of validity of the offered supply invoices cannot be less than six months.
“The institutionalization of these possibilities, according to the Ministry of the Interior, complements the successful – in terms of strengthening competition – introduction of the green tariff and is done with the criterion of greater transparency and better safeguarding of the interests of the consumer.”
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