Incentives for the transfer of electricity demand during the hours when prices on the Energy Exchange are lower, i.e. midday and weekends, are being implemented by the Ministry of Environment and Energy, as announced yesterday by Minister Theodoros Skylakakis.

With the new framework, the opening hours for the reduced (“night”) tariff valid today, which is 2-8am. and 4-5 p.m. in winter and 11 p.m.-7 a.m. in the summer.

The nocturnal current will be transferred to a zone between 10 am and 3 p.m. on summer days and 24 hours a day on weekends.

During these hours the prices on the Stock Exchange are lower – even zero – due to the oversupply of energy from the production of photovoltaics or the low demand on weekends.

“Evening is the most expensive time of the day”

Speaking to the TV station Action24, Mr. Skylakakis stated that the system with the night tariff no longer corresponds to the market data, given that electricity is more expensive during those hours.

“We currently have one remnant of the old electrical system, which when there was no demand at night, the then PPC gave the night tariff. Now the evening is the most expensive time of the day, and the cheapest are at noonwhen the photovoltaics work, and the Weekendsespecially on Sundays.

So it makes sense to move the demand to where the cheap price is, because this will allow the tariffs given by the providers to be cheaper. We currently have analog meters, which are not “smart”, but have two zones. With that given, we’ll go to two zonesone at lunchtime and at weekends – all weekend. I think we will be able to introduce this by the beginning of the year,” said the minister.

The nighttime changes were announced in the spring with an implementation horizon in the fall, but the new framework will come into force from 2025. The new zones of reduced charges concern consumers with a nighttime consumption meter estimated at 1.2 million. For the rest the application of multi-zone tariffs during 24 hours will become possible as the installation of “smart” meters by DEDDIE progresses. It is noted that the benefit of the night tariff today does not concern all consumers who have a night meter, as most suppliers have abolished the reduced charges at night (they remain with PPC for the green tariff and Elin for the blue-fixed). Therefore, in order to maximize the benefit for consumers from the new framework, it is necessary to formulate the corresponding commercial programs from the suppliers.