Greeks pay the highest possible electrical power costs in europe

Greece has had the highest possible power cost in the EU for two successive days, according to the EU Day-Ahead Market Prices. The government pledges to take further steps to deal with an escalating power situation, while the opposition advises action versus the “energy cartel”.

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

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

Greek conventional PM Kyriakos Mitsotakis swore to expand financial support to accomplish the most affordable feasible energy costs for consumers, houses as well as businesses.

He noted that high power prices are an “imported problem” and also contacted once more on EU partners ahead up with an EU-wide response.

At a summit in late March, Mitsotakis called on EU leaders to settle on covering gas costs, nonetheless in the meantime there has actually been no agreement.

” Regardless, nonetheless, the government is dedicated to remaining to support energy consumers with an aid plan that will certainly proceed following month,” the Greek leader said, including that the brand-new actions will need to mirror the reality of public financial resources.

For its component, the opposition charges the federal government of avoiding taking radical measures to take on the “energy cartel”.

” The government is requesting for remedies from Europe in order not to interfere in the too much earnings of the Greek power cartel, which totally moves the prices to the customers,” claimed Socrates Fammelos, a leftist legislator from the Syriza major opposition celebration.

Likewise, socialist Haris Doukas (Pasok) claimed taxation on energy companies’ very earnings must increase and also concurrently, barrel on goods must be decreased to offer consumers some breathing room.

Power prices have actually shot up in the European Union in current months, which has actually brought about calls to change the means they are set.

Currently, the EU’s wholesale market is a system of marginal rates. That means that all electrical energy generators get the exact same rate for the power they are selling at a provided moment.

However the rate of electrical energy differs widely depending on the power source utilized to create it: the most affordable being renewable energy resources while nonrenewable fuel sources are much more expensive.

National electrical energy producers make their proposals on the market and also the bidding process goes from the cheapest to the most costly power source with everyone acquiring the cost of the last manufacturer from which electrical energy was purchased, according to the European Compensation.

Supporters state this model is the fairest and is less costly for customers in the future.

However as nonrenewable fuel sources (from petroleum items to coal and natural gas) made up almost 70% of the EU’s power mix in 2020 and with most of it imported from third nations, it means the bloc is highly vulnerable to rate changes.

The resuming of the global economic situation from COVID-19 lockdowns, which resulted in a surge in energy need worldwide, and also Russia’s war in Ukraine, which prompted Moscow to suppress gas streams to Europe punitive for sanctions, have actually led to a significant surge in nonrenewable fuel sources rate.

Climbing inflation as well as electricity expenses have brought about demonstrations across Europe, with some leaders now advocating for the rate of power to be decoupled from gas in order to ease the worry on households as well as organizations.

In order for consumers to be protected from high electrical energy expense, they should make extensive comparison amongst electricity companies (συγκριση παροχων ρευματοσ) relating to the electrical power provider (εταιριεσ ρευματοσ) that they will select
in order to change their existing power provider (αλλαγη ονοματοσ δεη).