Greeks pay the highest power costs in europe

Greece has had the highest electricity cost in the EU for two consecutive days, according to the EU Day-Ahead Market Prices. The government vows to take additional procedures to take on an escalating power situation, while the opposition urges action versus the “power cartel”.

On 18 April, the wholesale price of a megawatt-hour was set at EUR255.95, while a day later on it skyrocketed to EUR287.45, a 12.3% increase within a day. The picture does not change for 20 April, as the map below suggests.

On 18 April, the wholesale rate of a megawatt hour was evaluated EUR255.95 while a day later it escalated to EUR287.45, a 12.3% boost within a day.

Greek conventional PM Kyriakos Mitsotakis swore to expand financial support to achieve the most affordable possible energy rates for consumers, households and also companies.

He noted that high power prices are an “imported problem” and gotten in touch with once again on EU companions ahead up with an EU-wide response.

At a top in late March, Mitsotakis got in touch with EU leaders to settle on capping gas rates, nevertheless in the meantime there has been no agreement.

” Regardless, however, the government is committed to remaining to sustain power consumers through a subsidy scheme that will certainly continue following month,” the Greek leader claimed, adding that the new actions will certainly need to show the reality of public financial resources.

For its part, the opposition accuses the federal government of avoiding taking radical actions to tackle the “energy cartel”.

” The government is asking for remedies from Europe in order not to interfere in the too much earnings of the Greek power cartel, which fully moves the prices to the consumers,” stated Socrates Fammelos, a leftist lawmaker from the Syriza major opposition event.

Similarly, socialist Haris Doukas (Pasok) claimed taxes on energy companies’ incredibly revenues ought to raise as well as concurrently, barrel on goods must be minimized to give customers some breathing space.

Power costs have soared in the European Union in recent months, which has actually caused contact us to reform the method they are established.

Currently, the EU’s wholesale market is a system of limited pricing. That indicates that all power generators get the very same rate for the power they are selling at a provided moment.

Yet the price of electrical power differs extensively depending on the energy resource used to create it: the most affordable being renewable energy sources while fossil fuels are much more pricey.

National electrical energy producers make their quotes on the marketplace as well as the bidding goes from the cheapest to the most expensive power resource with everyone acquiring the cost of the last manufacturer from which electrical power was gotten, according to the European Payment.

Supporters claim this design is the fairest as well as is less costly for customers over time.

But as nonrenewable fuel sources (from petroleum products to coal and also natural gas) represented almost 70% of the EU’s energy mix in 2020 as well as with a lot of it imported from 3rd countries, it suggests the bloc is highly at risk to cost changes.

The reopening of the global economic climate from COVID-19 lockdowns, which caused a rise in power need worldwide, and also Russia’s battle in Ukraine, which triggered Moscow to curb gas moves to Europe punitive for sanctions, have actually led to a remarkable rise in nonrenewable fuel sources price.

Increasing rising cost of living and electricity costs have actually resulted in objections across Europe, with some leaders currently advocating for the price of electrical energy to be decoupled from gas in order to relieve the burden on homes and also businesses.

In order for customers to be shielded from high electrical energy price, they need to make thorough comparison amongst power companies (συγκριση παροχων ρευματοσ) relating to the electrical power distributor (εταιριεσ ρευματοσ) that they will certainly pick
in order to replace their existing power supplier (αλλαγη ονοματοσ δεη).