There will be no “penalty” for changing electricity supplier with a variable tariff after October 1, when the extraordinary measures implemented since last year to deal with the energy crisis will be abolished and four categories of tariffs (variable or fixed) will be made available to consumers.

In addition, any changes to contracts that will apply from this date in relation to the previous (pre-crisis) regime will have to be communicated to consumers in a letter from their supplier.

These measures are proposed by the Waste, Energy and Water Regulatory Authority in the context of a consultation that started yesterday to prepare for the return of the electricity market to normality.

It is recalled that the extraordinary measures imposed during the crisis include the suspension of the tariff adjustment clause, as well as the imposition of a ceiling on the compensation of power producers. The Authority’s proposals for the framework for the protection of electricity consumers from October 1 include, among others, the following:

  • Consumers have the right to freely choose a Supplier. The process of changing Supplier does not entail a financial burden for Residential Customers and small businesses. Electricity Suppliers may not impose a contract termination fee on End Customers who voluntarily terminate variable price Electricity Supply contracts prior to the end of the contract. Any imposition of an early exit clause on a variable rate plan is considered abusive.
  • The issuance of consumption bills by suppliers is free of charge. Charges for sending paper bills are completely illegal.
  • In the event that, with the end of the emergency measures, the terms of the Electricity Supply Contracts that were suspended without any are revived, the Electricity Suppliers do not have to inform their Customers. If the tariff or other basic terms of the Supply Contract change, suppliers must inform customers 60 days before the changes come into force, i.e. no later than 31 July 2023. The notification is made by letter which can be included in the same envelope together with with the consumption bill that will be sent in July but in a separate document from that of the bill.

After the end of the emergency arrangements, the previous tariff categories return, i.e. fixed, fluctuating with prior price notification, fluctuating with post price notification and dynamic for those with smart meters.

The set of invoices will continue to be posted on the Authority’s website as well as on the price comparison tool.

The consultation will run until next Monday, June 19