Fixed or variable electricity tariffs with contracts of less than one year but at least six months can be made available to consumers the suppliers with the same color marking that applies to the 12-month contracts (blue for fixed, yellow for floating). Mixed products (fixed for a period, fluctuating afterwards) are marked as yellow and are not allowed to have an early exit clause.

These result from the clarifications provided tonight by Waste, Energy and Water Regulatory Authority, following a recent relevant Ministerial Decision.

The Authority, as it states “in order to exercise its supervisory authority, in a uniform and equal manner, in order to effectively ensure the interests of consumers, but also to promote healthy competition in the supply market, requested the provision of clarifications regarding the minimum contract duration of electricity supply products and in particular for the henceforth allowing the supply of products with a contract duration of less than a year, as well as for their color marking.

Following the clarifications provided by the ministry regarding the above issue, and in accordance with the true will of the regulatory legislator, both the duration of the contract and the Invoice are elements of the supply offer which may, with the consent of the customer, result in a contract duration supply that cannot be less than six months. Therefore, suppliers may offer a supply contract of less than one year and not less than six months.

The invoices offered above are color coded according to the way the commission charge is configured, i.e. the same as the corresponding twelve-month products.

Products with mixed characteristics fall under the floating supply products with a yellow transparency color code for which an early exit clause is not allowed.”