Retain power providers in the Greek market were obliged on Monday to disclose the final electricity rates they’ll charge for this month, January. The final rates for each month will be announced on the first calendar day so that consumers know precisely what they will pay for power usage during the ongoing month.
For January 2024, the range of rate charges for the “green tariff” varies from €0.13635 per kWh to €0.216 per kWh.
It’s worth noting that as posted on providers’ websites, almost all have incorporated discounts on top of the base supply price.
Some providers have termed this discount as “consistency discount,” while others simply as a “discount.” Those offering a “consistency discount” imply that the green tariff will decrease to the corresponding lower charge only if the customer pays timely and before the account’s due date.
The lowest charge in the green tariff has been announced by the state-run Public Power Corp. (PPC) at €0.13635 per kWh for monthly consumption up to 500 kWh. PPC is the dominant power provider in the country. The listed utility was was the sole power monopoly in the country, from production, to transmission, to retail, wholesale and industrial provider.
The other providers did not fall below €0.14 per kWh, indicating an intensifying competition among themselves and also in comparison to the dominant player in the so-called “yellow” electricity billing.
In this category, it’s worth recalling that there are products with pricing announced on the first of each month and products with pricing announced after consumption, at the end of each month.
Charges in the green tariff is shaped by the base electricity supply price (initial electricity price based on provider costs and profit margins), the fixed charge (known and should not exceed €5 per Megawatt-hour), fluctuation mechanism coefficients (mathematical formula activated when the provider hasn’t accurately predicted the electricity price), and the amount of discounts offered.
Every so often, changes occur in the green tariff as the Regulatory Authority for Energy (RAE) clarifies.
The fixed rate may vary each month and applies to the first consumption bill after the modification. It must be announced on the 1st of the month.
The basic electricity supply price may change every six months but must be announced two months before the modification.
Discounts on the basic electricity supply price may change monthly and be announced on the 1st of each month.
Consumers should also know they have the right to change their provider every month. The same applies to the colored electricity tariff.
The only limitation to changing is if someone leaves the fixed or so-called “blue” tariff. Whoever chooses this specific product cannot change tariff categories until the expiration of their contract.